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| Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Need Help with a deed in lieu of foreclosure AKA Take this Home & Shove It! You are not alone. We thought we would add this section to the forum to assist the homeowners that have made the tough decision to walk away from their homes. This is America and you have the right to walk away from contracts and your home. The question is what implications will you suffer for saying, "Take this home and shove it, I aint paying you no more!" Find out the good, the bad and the ugly. |
This is a discussion on how long you can stay in your house after the foreclosure sale within the Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? forums, part of the Stop Foreclosure and Tell Us Your Story category; I met an attorney today for an initial free consultation. He told me the usual stuff that I've found on ...
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| Senior Member Join Date: Sep 2008 Location: Greater Sacramento Region
Posts: 104
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | how long you can stay in your house after the foreclosure sale I met an attorney today for an initial free consultation. He told me the usual stuff that I've found on this forum. He also mentioned that after the foreclosure sale, a Real Estate agent comes by and asks you to vacate. These RE agents have been given money by the bank to get the house ready to be put on the market. The attorney told me that the RE guys can use the money any way that suits them to help vacate the house including "cash for keys" as mentioned in this forum. The attorney told me that the RE agents are usually considerate and if you have a rental agreement starting 30 to 60 days later, they'll let you stay in the house that long. So you can rent an apartment with a start date of 30 to 60 days after the sale date and show that to the RE agent. If they want to get the house earlier, they usually give you "cash for keys".
__________________ $365K loan 80/20. Both with WF Current house value: 240K. Now reduced to 215K Last payment: Nov 2008 NOD: Mar 16 Current Status: WF working on a Loan Mod under the Obama Plan. |
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| Member Join Date: Apr 2009
Posts: 17
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: how long you can stay in your house after the foreclosure sale So how much cash we talking here, I imagine the amount relates to the value of the home - Mine valued about 195,000. |
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