After attempts to apply for a loan modification, the bank went ahead with the foreclosure. The auction was one day ago and I am not sure if the bank brought the home back or someone put a bid on the house. Anyway, my questions: I live in the state of Virginia and wanted to know what my rights are at this point, also, who comes by to let me know that they now own the home and how is there a redemption period in virginia. Bottom line, how long will I have to move? I am handicap and will need some time in moving.

If your state had a redemption period, then you would be allowed to buy your house back, unfortunately Virginia does not. The new owners, if your house was bought at auction, have the say on just how long you can stay in your house and prepare for moving. Usually they want previous owners/tenants out immediately so they can take possession.

I suggest you call your bank to find out if your house was bought, or or still on the auction block, then you can determine just how long you have to prepare.

Tick

Thank you for your response, since I do live in VA and as you indicated, VA does not have a redemption period :-( another question, now that the sale/aution have occurred, because I came into possession lawfully, even though I am no longer the owner, do I still have a right to possession until a court tells me otherwise? And what exactly is "[B]A RIGHT TO POSSESSION"?

This is from the Masslegalhelp website:

Previous homeowner who remains in the property after foreclosure is considered a tenant at sufferance, she is entitled only to a notice that her right to possession has terminated by operation of law.25 In this context, lenders usually use a 72-hour notice, which has been found sufficient.26 The new owner must then file a summary process case, in which the old owner can defend herself.

The right of possession means that someone currently holds something in hand and this person may be the temporary keeper or the long-term owner of the property, but you cannot because you have lost your property to foreclosure and for the time being the bank owns it.

Under federal law you have to be given 90 days notice to vacate. There is a Sticky note on the top of this forum that deals with this issue.

https://www.askmehelpdesk.com/real-estate-law/paying-rent-when-property-foreclosure-316199.html