Old 04-16-2009, 05:59 PM   #1 (permalink)
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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".


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$365K loan 80/20. Both with WF
Current house value: 240K. Now reduced to 215K
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NOD: Mar 16
Current Status: WF working on a Loan Mod under the Obama Plan.
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Old 04-16-2009, 06:23 PM   #2 (permalink)
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Re: how long you can stay in your house after the foreclosure sale

Thanks for posting that info.
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Old 04-23-2009, 06:36 PM   #3 (permalink)
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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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