My forclosure date is August 7, 2008. when should I move?

Question

When can they legally kick me out. In California and they were supposed to have been offered a short sale by this company I hired to do my mitigation and the mortgage company refused the short sale offer. If you just have answers like my first answer, don't waste your time.

Answer 1

when the sherriff arrives to kick you out, not a day before.  Good luck!

Answer 2

Where do you live?  Have you made any attempts to sell it yourself?  It is the eleventh hour but your lender may consider if you have a viable buyer.  It is very expensive for them to foreclose.

Answer 3

In California most lenders use the non-judicial foreclosure procedure.

This means that once a lender has decided to foreclose on you they issue a "Notice of Default/Foreclosure" this document is recorded at the county recorders office where the property is located

At this point you now have 90 days to bring the mortgage current, refinance the mortgage or do what ever you want to do to keep your property.

Once the 90 day period is over the lender then decides to record a "Notice of Sale" at the county recorders office.

This notice will have a sale date and place of sale.

Once this document has been recorded you now have 20 days in which to refinance or cure your foreclosure. Most lenders will not entertain the idea of refinancing their own loan once this document has been issued. Some might, but most will not. Now the lender is interested in you paying the mortgage off or bringing it current.

At the sale if the property is sold to someone, they have to get the property recoded in their name so there is lots of legal work to be done before they officially own the property.

This new owner will contact you when all the legal documents are signed and between the two of you select a time for you to move. You might be required to pay rent for the time you stay there but this is between you and the new buyer.

If the property does not sale then the lender has to get a few legal matters taken care of so they have to wait until the legal matters are completed.    

If this happens once all the legal matters are taken care of the lender normally hires a real estate agency to take care of their real estate sales.

An agent from the agency will contact you about the date and time of your departure.

You may decide to move at anytime you desire, but you eventually will be asked by someone to move after the sale.

The sheriff will only come after an eviction notice has been filed by someone. They don't just come out and put you out. They have no legal right because until all the deeds have been recorded in someone else's name the property is still legally yours and you can not be put out of your own home.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 4

I'd move 1 day before but sleep there the night of Aug 6.  You are responsible for any damage to the property during the time you own it.  On the afternoon of Aug 7 you won't be the owner any more.  The bank will own it.  Up until that time you absolutely must guard against any breakin or vandalism or arson.  You can't imagine how often this happens.  As if the vandals all know where they can strike next.

The banks are tired of people moving out and taking the stove and countertops with them so they are ready to get tough.  You are being nice.  You won't steal the stove.  But if the vandals enter, the bank will not believe that it wasn't you.  

Protect your interests.