sale date set

[JNOMONEY]

got my letter yesterday saying that the sale date was set for 3-1-10. how long can i stay in house without getting forced out by the sherrifs ?

[jlmaca]

got my letter yesterday saying that the sale date was set for 3-1-10. how long can i stay in house without getting forced out by the sherrifs ?

Really depends upon the laws of the state you are in and how much time and energy you have to delay the sale.

[JustFileSuit]

got my letter yesterday saying that the sale date was set for 3-1-10. how long can i stay in house without getting forced out by the sherrifs ?

Depends on whether or not it "sells" to a bona-fide purchaser. If nobody bids, or bids enough, the lender just "buys it in," i.e. they become the "purchaser" without actually purchasing anything, it just changes title to them. Now they have to try to market the property, and may well be content to leave you in there just to avoid having the property vacant and vandalized (and stripped). You might also approach them with the idea of becoming a paying tenant.

If the property actually sells to a third party, then it depends on what the purchaser's objectives are. Most likely they will force you out. That would take an "eviction," about two weeks or so.

Anybody else have a thought on this? Please chime in! (I am not familiar with PA procedures).

[JNOMONEY]

so i should be ok to stay till enf of feb? thanks for your replies

[jlmaca]

got my letter yesterday saying that the sale date was set for 3-1-10. how long can i stay in house without getting forced out by the sherrifs ?

What state are you in? Who did you get the letter from? It's possible you can stay longer than March. I believe there is a proceedure that must be followed to get you out of the house. They just can't show up and say ok move today.

[JustFileSuit]

What state are you in? Who did you get the letter from? It's possible you can stay longer than March. I believe there is a proceedure that must be followed to get you out of the house. They just can't show up and say ok move today.

The Poster is in Pittsburgh (presumably PA). Logically, the Poster has a conventional Note and Mortgage requiring a judicial foreclosure, not a Trust Deed. "IF" [big "if"] the Judgment of Foreclosure is a Judgment of Sale, then the Sale takes place by the appointed Committee (either the Committee of Sale, an attorney appointed by the Court, or a Sheriff), and then there are bids, and then the high bidder files his deposit at the sale, and then the sale price is taken back to the Court for approval by that Court. After the Court approves the Sale (and you do not contest), then there is the statutory period for the debtor to file an Appeal of the proceedings with the next court up, and THEN you get the heave-ho. But do note that since the Judgment requires that the house be vacated by the debtor you run the risk that the county sheriff does not require the new buyer to go through the process of evicting you, and just shows up with his men and tosses your stuff out (dispossession by ejectment). So you do have to make inquiries as to how it works in your County.

Now note that if it was a Judgment of Strict Foreclosure, then title has already passed upon the passing of the "law days" which are the days of redemption, and the new buyer already owns the place, and HE is the one selling it on to someone else on the Tenth of March. Again your rights are gone and the ability to avoid ejectment is murky enough, and I cannot give you solid advice, so be sure to make inquiries.

And if you have your Note secured by a Deed of trust instead of a conventional mortgage then they do not need to even go to a judicial foreclosure and can foreclose out your interest by non-judicial foreclosure, and then you get those terrible abuses where you are on vacation and some sturdy men just dump your stuff on the sidewalk to get picked over by the local scavengers, and you come home and someone else is sitting in the house and you have nothing. You see this in Western States where Trust Deeds are so popular with lenders.

Moral: find out exactly what kind of foreclosure you have against you, and what the local practice is.

[jlmaca]

The Poster is in Pittsburgh (presumably PA). Logically, the Poster has a conventional Note and Mortgage requiring a judicial foreclosure, not a Trust Deed. "IF" [big "if"] the Judgment of Foreclosure is a Judgment of Sale, then the Sale takes place by the appointed Committee (either the Committee of Sale, an attorney appointed by the Court, or a Sheriff), and then there are bids, and then the high bidder files his deposit at the sale, and then the sale price is taken back to the Court for approval by that Court. After the Court approves the Sale (and you do not contest), then there is the statutory period for the debtor to file an Appeal of the proceedings with the next court up, and THEN you get the heave-ho. But do note that since the Judgment requires that the house be vacated by the debtor you run the risk that the county sheriff does not require the new buyer to go through the process of evicting you, and just shows up with his men and tosses your stuff out (dispossession by ejectment). So you do have to make inquiries as to how it works in your County.

Now note that if it was a Judgment of Strict Foreclosure, then title has already passed upon the passing of the "law days" which are the days of redemption, and the new buyer already owns the place, and HE is the one selling it on to someone else on the Tenth of March. Again your rights are gone and the ability to avoid ejectment is murky enough, and I cannot give you solid advice, so be sure to make inquiries.

And if you have your Note secured by a Deed of trust instead of a conventional mortgage then they do not need to even go to a judicial foreclosure and can foreclose out your interest by non-judicial foreclosure, and then you get those terrible abuses where you are on vacation and some sturdy men just dump your stuff on the sidewalk to get picked over by the local scavengers, and you come home and someone else is sitting in the house and you have nothing. You see this in Western States where Trust Deeds are so popular with lenders.

Moral: find out exactly what kind of foreclosure you have against you, and what the local practice is.

Very well stated and researched answer. I think your final statement says it all: find out exactly what king of foreclosure you have. It's very possible to get the heave ho within days after a sale in PA. I think getting out and moving on before the sale would be a good idea.