Someone who had a house foreclosed on?

Question

Has anyone in minnesota went into foreclosure? I might be looking at my house being foreclosed on me, so I was just wondering what happens as far as details, someone who has gone through this please help?

Answer 1

If you don't make your payments, you will receive a notice that you have run out of time and a foreclosure has been scheduled for a certain date. Usually in 90 days.  If you pay up what you owe, you can stay and all if forgiven.  If you don't pay, the sheriff escorts you out on the 90th day.  You need to stay in the house as long as you can.  If the house gets vandalized, you are responsible right up until the end.  Protect it.  But get ready to move.  The sheriff lets you have 1 hour.  

You could call the bank today and say "Why wait?".   They may agree to have you sign the house to them today and it's over.  They own it. /

Answer 2

There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first. Try http://www.speedyrealestate.info. Good luck!