how much time ?

[SquareOne]

hello everyone.....ok, i'm 23 months behind on my mortgage. i recently found out that the bank had a hearing in sept. 2009 ( didn't notify me ) and now the final sale of the property is set by the court for 04-07-2009 ( according to the bank). My question is how much time do i now have ? am i entitled to an eviction beyond 04-07-2009 or must i be out on that date ? please share experiences with this. I suspect i can stay in the home beyond 04-07-2009 and will probably be evicted by approx. June or July. what if they change the locks on 04-07-2009. I am in Florida.
Thanks

[1967]

I'm 5 months behind and a friend of mine is a president of a (different) bank and he is helping me figure out how to stay here as long as possible. According to him once it hits the sheriff sale it takes about a month before you get an eviction notice and you should be able to stretch that out 3-6 months. Keep in mind this is in Wisconsin so I'm not sure if that changes anything for you.

He says that if the consumer protection laws are used to my advantage I should be able to stay here for as much as 2 1/2 years. I don't plan on doing that because I want to get on with my life and move forward, but it is available.

Study eviction notices in your state and maybe that will help you figure it out. I would say at 2 years you are however getting pretty maxed out to the end.

good luck

Mike

[frogger]

As long as you are in the property, you have possession. Even though the bank will get title, never forget that you have possession.

For them to get possession, they are going to need to evict you. Depending on many factors, this could take a month, it could take several months. If you're riding this horse as long as you can, make sure that you do not give up keys and you maintain the utilities.

And if you're really lucky, you can hope that the bank does an involuntary eviction on you. That would get interesting........

[1967]

Yeah, that's also what my banker buddy said, "Keep up on the utilities" and milk it. I'm no expert but he stressed to me that saving money during this period is key (of course) and eviction is really tilted to help the consumer.

I have a real estate developer in Orlando Florida that deals with eviction all the time, I'll call him today and get his thoughts and how to milk it for you.

Mike

[jessl]

I am in Wisc. 1st and 2nd mortgage is with GMAC. No payments for 12 months. On 12/14/09 judge granted foreclosure in court.

My question is do I now have 6 months redemption period before sheriff's sale? Do they wait the 6 months to post in newspaper for 6 weeks or do they start posting before that?

Will I be notified the date I have to be out?

Thanks in advance for your response.

[youngnbroke]

I am in Wisc. 1st and 2nd mortgage is with GMAC. No payments for 12 months. On 12/14/09 judge granted foreclosure in court.

My question is do I now have 6 months redemption period before sheriff's sale? Do they wait the 6 months to post in newspaper for 6 weeks or do they start posting before that?

Will I be notified the date I have to be out?

Thanks in advance for your response.

Since its been about 9 months since this post, what has happened?? We also live in WI and 1st & 2nd mortgage is with GMAC. We are currently 2 months behind on the 1st and 3 months behind on the 2nd. I am a planner (well now i am!) and am curious as to how long ppl actually have with the same state and bank?? Hope your still around to answer!!