If you have only received a couple of letters from the mortgage company, you are not in foreclosure yet. Depending on the type of foreclosure, a notice will be published in a legal newspaper for 6 weeks prior to the sheriff's sale. You will be served 4 weeks prior to the sale. This is a foreclosure by advertisement which is used in the majority of foreclosures in Minnesota. Once the sheriff's sale happens, you will have a redemption period (time to buy back your house in full) where you can continue to live in the property. The redemption period is usually 6 months if you are living in the home. Once the 6 months are up, if you have not moved, then the mortgage company will have to evict you which usually takes up to a month.

Answer Applies to: Minnesota
Replied: 10/18/2011

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Hard to predict. Big banks take at least ten months to foreclose. Smaller banks move a little faster.

Answer Applies to: Arizona
Replied: 10/15/2011

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No set time. Start packing.

Answer Applies to: Maryland
Replied: 10/13/2011

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Eventually they will give you a "Notice of Default". That notice will give you 90 days to pay the past due amount. At the end of 90 days they will tape to your door a "Notice of Sale". The sale date will be 20 days from the date of the notice. At that time the will sell the house. So you have quite awhile to go.

Answer Applies to: California
Replied: 10/13/2011

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Eventually a foreclosure sale date will be set. You will receive notice of the sale date. The process takes about 7 months from the time you are sent what is called Notice of Demand and Election. I have seen lenders hold off on foreclosure for long periods. I have had clients stay in the house for a couple years.

Answer Applies to: Colorado
Replied: 10/13/2011

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It is always hard to predict when your mortgage company will start the foreclosure process. In Colorado, however, the mortgage company must give you four months notice of the upcoming foreclosure date. Sometimes it can take between 4 to 12 missed mortgage payments before the bank will start the foreclosure process. And then, you'll get four months notice. Thus, you could be in your home for at least another four months and probably longer.

Answer Applies to: Colorado
Replied: 10/12/2011

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If they start foreclosure proceedings now it will be about 90 days.

Answer Applies to: Utah
Replied: 10/12/2011

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Foreclosure process in Colorado requires that you are given notice of the sale date. Since the foreclusure hasn't started yet, you easily have 4 months before you can be evicted after the sale date.

Answer Applies to: Colorado
Replied: 10/12/2011

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If you have not already, you will be served with a Foreclosure lawsuit. A Motion for Summary Judgment will be filed. A hearing is scheduled on that Motion for Summary Judgment. The Order will be entered and will schedule a foreclosure sale date. You will want to have left the home before that sale date. This process can take from months to even years. You will need to pay close attention to the mail you receive in regards to the foreclosure lawsuit.

Answer Applies to: Florida
Replied: 10/12/2011

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If you have not already, you will be served with a Foreclosure lawsuit. A Motion for Summary Judgment will be filed. A hearing is scheduled on that Motion for Summary Judgment. The Order will be entered and will schedule a Foreclosure sale date. You will want to have left the home before that sale date.

Answer Applies to: Florida
Replied: 10/12/2011

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If you retain an attorney to answer the summons when you receive it, you should be able to stay in your home for much longer (2 to 3 years), but if you do absolutely nothing, then it would still take approximately 18 months at least. But you should retain an attorney so that you can maximize the time spent at home and if you have the right attorney, you may even get a loan modification offer that is good enough to stay.

Answer Applies to: New York
Replied: 10/12/2011

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Generally you can stay 6 months after the Sheriff's Sale has taken place.

Answer Applies to: Michigan
Replied: 10/12/2011

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The only person who can tell you is your attorney (and yes, you need one).

Answer Applies to: Georgia
Replied: 10/11/2011

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You can stay in the house until shortly after the foreclosure sale date. If you have not yet received paperwork regarding the foreclosure, then the sale date is probably 5-8 months away.

Answer Applies to: Colorado
Replied: 10/11/2011

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Your home will have to go through the legal proceeding of a foreclosure. Once the foreclosure is filed, you will get served with the summons and if you want more time and advice seek out a foreclosure defense attorney. After you are served with your foreclosure summons, you still have a good amount of time left in your house. You have to be out of the house 10 days after the foreclosure auction sale date which will be set after judgment (all events that happen in the foreclosure proceeding and you should receive copies of). I hope you found this answer useful.

Answer Applies to: Florida
Replied: 10/11/2011

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The foreclosure process in California takes 110 days after the notice of default is recorded at the country recorder's office. It is not started by a simple letter of default, it must be a legal notice.

Answer Applies to: California
Replied: 10/11/2011

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Good question; however, no clear cut answer. Why? Because it depends on your lender and the temperature on any given day. In other words, there is no consistency even with one bank. For example, Bank of America may foreclosure within 4 months and in another case may foreclose after three or four years. I know of a former client who hasn't paid his mortgage since 2008 and he is still waiting for the foreclosure on his property. In the meantime, he sits pretty just waiting for that eventual day to come. Since you are current on the"PMTS" (which I guess is another way of saying "payments"), then it will be a while. The minimum period is 4 months from default, e.g. when you are at least 30 days late on your mortgage payment.

Answer Applies to: California
Replied: 10/11/2011

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In Texas, you can stay in your house as long as you own it. You own it until the foreclosure sale takes place. Foreclosures can only occur in Texas on the first Tuesday of a given month. You must be given certified mail notice of the foreclosure sale, at least 21 days before the foreclosure takes place. And if it is your principal residence, they must also give you 20 days' notice before they "accelerate" your mortgage loan, or call it all due. After they accelerate the loan, they will no longer accept individual payments from you. After the foreclosure sale, if you still don't move, the new owner of the house (usually the mortgage company, who has been the successful bidder, if there are no other bidders) will give you 3 days notice to vacate. At that point, you can ask them for more time to move. It is not unusual to grant 30 days for you to move, if you will do so willingly. If you don't have the money to move, it is not unusual for mortgage companies to pay you to move (often called "cash for keys") if you will agree to move out by a certain date, and you will leave the property "broom clean," i.e. have all your stuff hauled off and have the place reasonably clean. I have heard of cash for keys payments of $1500 or even more. If after a 3 day notice to move (or such additional time has been given), you still don't move, the new owner will likely file an eviction suit in the local Justice of the Peace Court. A hearing is usually set in 10 days or so, and the only issue is whether or not it was a valid foreclosure sale. If the ruling is against you, or if you don't show up for the hearing, the court issues a "writ of possession" which is an order to the sheriff or constable to put you out. The sheriff or constable will often call you or go by your place and tell you to move at that point, as a courtesy. But if you still don't move, the sheriff or constable shows up with a moving company, and they pack up your stuff and put you out. I don't recommend that you let it come to this. Your stuff is then basically hostage to the moving company, and to get it back you would have to pay all the expense of packing and moving and storing the stuff, which can be thousands of dollars. Most of the time if this happens, people lose their stuff, which is then auctioned by the moving company to try to cover the costs. It costs a lot of money to replace your "stuff" when you get re-established and ready to set up housekeeping again.

Answer Applies to: Texas
Replied: 10/11/2011

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You must be given a 90 day notice of default and then the bank can set a trustee's sale date with 21 days' notice. When the bank will do all that is anybody's guess. In some areas the banks don't seem to want to foreclose and take their time to do it so enjoy living there free of rent until you have to go and maybe then they will give you money to leave without having to evict you after the trustee's sale.

Answer Applies to: California
Replied: 10/11/2011

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The mortgage company has to record and serve on you a notice of default and then wait 90 days when they can serve a notice of trustee sale, which cannot take place any sooner than 30 days after service. At the trustee sale they will bid in their balance, and if no one else bids will gain title. After that they can tell you to move out or file an "unlawful detainer" action to have the sheriff come and tell you to move in 5 days or else be put out on the street.

Answer Applies to: California
Replied: 10/11/2011

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The bank has to still foreclose on the property. You need to call them and find out the status. Once they foreclose, they will sell the house at auction. Then you will be contacted about moving. There is no firm time line. It depends on the bank and the sale.

Answer Applies to: California
Replied: 10/11/2011

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