Florida Foreclosure-when will I have to move?

[oscar]

We are still living in the house we surrendered in our BK. Once the house is sold via foreclosure auction, when will I have to move out? Is it the same day? Will I get some kind of notice?

Also, we'd be interested in renting the house from the new owner: any tips on how I'd go about finding out who new owner is, how to contact?

House is in Palm Beach County, FL.

Thanks,

Oscar

[OhioFiler]

You'll have plenty of time to vacate after the foreclosure.

Most likely, the bank will become the new owner.

[justbroke]

We are still living in the house we surrendered in our BK. Once the house is sold via foreclosure auction, when will I have to move out? Is it the same day? Will I get some kind of notice?

In Florida, you have 10 days before a Writ of Eviction can be granted. I would certainly be out if it sells at auction. Don't get an eviction on your credit report! It could preclude you from renting or, in the least, make renting difficult and may subject you to otherwise less-than-desirable accommodations/landlords!

Also, we'd be interested in renting the house from the new owner: any tips on how I'd go about finding out who new owner is, how to contact?

You would need to attend the auction to immediately find out who the purchaser is. In most likelihood, it will be the bank. This will be known as an REO property (Real-Estate Owned). The bank will want to market it by employing a realtor. There are "some" banks that don't mind leasing it to the former owner.

Regardless, I would not count on staying.

Have they even started foreclosure proceedings?

[oscar]

We were served a Lis Pendens late Dec, 2011. We replied within the 20 days so now it's on hold. We are scheduled for a court mediation on March 23. Not optimistic about results of that but if nothing else, its giving us more time in the house to save money.

The "auction" is actually online here in Palm Beach County!

Oscar

[Floridagail]

We received letter from Bank of America, asking for us to sign deed and possibly lease back the house. Our LP was 11-30-2011. However they want our bank statements, paystubs and tax info to possibly qualify for accepting the Deed and the 3000.00 cash and the lease back program. So we will not provide the info as we know we would not be approved. We also have second Mortgage, so it would not work. They offered to pay 6000 to them
but would be up to us to pay the rest to second mortgage, I was surprised at that.
We are retiring and do not want the upside down 160 grand house. We plan to stay until the auction as we know they get cancelled and changed alot. A friend of ours in Lake county got no offer and he is moving out
now, after the hearing , but b4 his auction. I have started packing , took loads to goodwill, sold stuff so the move will be easier.

[oscar]

Sounds like a "cash for keys" option. We haven't gotten any offers from BOA, but could put that on table at mediation hearing. What are they looking for to approve? How did you know you wouldn't qualify? Yes, we are about 160K upside down, too. Won't recover that in our lifetime! Sounds like you had a place lined up to move into. We don't.

Thanks for your info. Anything else you can share will be greatly appreciated! Who ever thought or planned to be in this situation....

Oscar

[Floridagail]

No actually we don't have a place yet. Not sure yet. We want to get back to Brandon Riverview area, and prices are still pretty high there . Can you believe that. The letter stated if finances improved the offer would be recinded. We have no acceptable hardship yet. They want a hardship like unemployed, illness. He is still employed as of today, could change anytime , if not he will retire in 2 yrs or so. We cannot see paying for the house 1800 month, for a 80 thousand valued house. All our neighbors has mostly walked away already. Most of new families are not keeping up the yards, So we really want to move.