Ask Experts Questions for FREE Help !
Ask
    Britalian's Avatar
    Britalian Posts: 24, Reputation: 1
    New Member
     
    #1

    Jun 17, 2008, 08:59 PM
    How long before mortgage company can force me out of my home?
    I am, as of 6-17-2008, 3 months behind in my mortgage.
    Only a miracle would get me current. What I'd like to know is, plain and simple, how much time do I have before I have to vacate my home, before the mortgage company can force me out?
    I know that they can, in all likliehood, and under law, force me out tomorrow, but what is "customary" in, for instance, California?
    Thank You
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
    Ultra Member
     
    #2

    Jun 17, 2008, 09:04 PM
    Your mortgage company must foreclose; this is ordinarily 'judicial' (through the court) or 'non judicial'. Either way, you will receive a notice of sale by auction. You should be able to remain up until that time, and it will depend on how quickly the purchaser wants you out. You may be able to work out a lease with the new owner, or it may have you evicted. It could go either way.
    creditor's Avatar
    creditor Posts: 2, Reputation: 1
    New Member
     
    #3

    Jun 17, 2008, 10:24 PM
    Quote Originally Posted by Britalian
    I am, as of 6-17-2008, 3 months behind in my mortgage.
    Only a miracle would get me current. What I'd like to know is, plain and simple, how much time do I have before I have to vacate my home, before the mortgage company can force me out?
    I know that they can, in all likliehood, and under law, force me out tomorrow, but what is "customary" in, for instance, California?
    Thank You
    Don't give up... get your original paperwork together especially the mortgage and note and start reading to get a understanding on what you agreed to. Get yourself a law dictionary and look up whatever words you don't understand particularly; note, mortgage, and deed. Knowledge is power and truth is paramount.All is not lost.
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
    Ultra Member
     
    #4

    Jun 18, 2008, 04:44 AM
    Quote Originally Posted by Britalian
    I am, as of 6-17-2008, 3 months behind in my mortgage.
    Only a miracle would get me current. What I'd like to know is, plain and simple, how much time do I have before I have to vacate my home, before the mortgage company can force me out?
    I know that they can, in all likliehood, and under law, force me out tomorrow, but what is "customary" in, for instance, California?
    Thank You
    Then again, if you want a miracle, the mortgagee might let you pay this in an alternative way; and there is always the old reliable, Chapter 13.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #5

    Jun 18, 2008, 04:56 AM
    Can you start making the current payments and not fall any further behind ? If you can, often they will work with you. They may start foreclsoure at any time if they want, And it can depend on just who the lender is, I have seen homes go 6 to 9 months before the lender foreclosed, I have seen others do it after 2 months.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #6

    Jun 18, 2008, 06:12 AM
    First, no one can answer your question. There are several factors involved and each situation may be different. The first step is to place the house in foreclosure, which will setoff an approximate timetable.

    Second, with the current mortgage credit crisis, lenders are more willing to work with homeowners. Lenders are not in the real estate business so they don't want to foreclose if its avoidable. So you need to work with your lender on alternatives. Maybe a refinance that will lower your payments and include the arrears. Or maybe just adding the arrears to the end of the loan.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Home went back to mortgage company, Now what? [ 6 Answers ]

I went into foreclosure, and was not able to stop the process. I had my house up for sale for almost a year. The sheriff sale was in march and it went back to the mortgage company. I have no clue what to do now? I haven't heard anything from anyone, and I feel really lost as to what is going on. ...

36 hours before I close mortgage company refuses to give mortgage? [ 5 Answers ]

I secured a deal for a home with the owner and got a signed contract a month ago. For sale by owner deal. Secured financing at 95%, with 5 % down. Did financing through a broker, and got a locked in deal with countrywide over 3 weeks ago. All is well, appraised for 100K over what I have...

Mortgage company sent me the title to my home [ 1 Answers ]

After refinancing my home, the new mortgage company sold my mortgage to the original mortgage company, shortly after that I received the title to my home in the mail. It is signed by the president of the mortgage company and clearly states that all debt is paid. I was wondering where I stand...

Company introduction letter for audio/home theatre solution company [ 1 Answers ]

I want to introduce myself/company to one of the top interior designer. I am an individual dealing in audio / home theatre solutions. I want to an introduction letter for my company.

Mortgage Company Name [ 2 Answers ]

How do I find the Mortgage Company that holds the mortgage on a house in Harris County, Texas


View more questions Search