We stopped paying in 5/09 and about 2 months ago got notice of the final foreclosure hearing. Didn't go, so we received the final judgement 8/3 with a courthouse sale date of 9/7. No other bids, so house was bought back by the bank. Supposedly, there is a 10 day grace period after the sale before the new deed is issued and the new owner can do anything. This is what I gathered from online info and what I was told when I called the clerk of courts. Exactly 7 days after the sale, they changed the locks and hung a lockbox on the door and a notice that it's now owned by Fannie Mae. Fortunately, we were already completely moved out.
If you're in this situation, once it sells at the courthouse you'd better be ready to move, unless you contact them about renting it back from them, which may be an option.
Of course, now that it's too late, I have this sick feeling of remorse that I didn't try to keep our home and my wife is really sad and disappointed....but that's another story.
I tried to make it a "business decision" and leave the emotion out of it, but I'm not so sure it was best. Best of luck to all of you who are in this situation.
If you're in this situation, once it sells at the courthouse you'd better be ready to move, unless you contact them about renting it back from them, which may be an option.
Of course, now that it's too late, I have this sick feeling of remorse that I didn't try to keep our home and my wife is really sad and disappointed....but that's another story.
I tried to make it a "business decision" and leave the emotion out of it, but I'm not so sure it was best. Best of luck to all of you who are in this situation.
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