Home Loans and Support

Just got Notice of Trustee's Sale--now what?!?

Discussion in 'Foreclosures' started by JayBet98, Jun 7, 2011.

  1. JayBet98

    JayBet98 LoanSafe Member

    I know I shouldn't be surprised, but I still was when I went to take trash out and there it was on my door. My lender (AHMSI) has done everything exactly to the date they're allowed to, no dragging feet. NOD was filed 3/7/11, and today, 6/7/11, Notice of Sale says it's set for 6/28/11.

    What I'm not sure of is how much time I have left? If the house does sell at auction what's the legal timeframe I have to get out after that, or should I just go as soon as I can before sale? (I swear I've read something on here about this, but can't find it now).

    I've also heard that the sales can get postponed 2 or more times, giving you more time...or what happens if it does NOT sell at auction?

    Sorry for the barrage of questions, just trying to see what my options are...I have 4 year old twins, so I don't want to risk us being homeless, but will camp here as long as I can...plus a move is going to require a new preschool, etc, so just trying to see what kinda realistic time I have here...

    Thanks in advance!
  2. JayBet98

    JayBet98 LoanSafe Member

    Thank you for the reply....I know that my loan is not Fannie/Freddie...so if it did not sell at auction, could I still stay here until a realtor sells it?

    Or if it DOES sell, does anyone know how much time you legally have from auction date to get out?
  3. SurfwhenUcan

    SurfwhenUcan LoanSafe Member

    Sometimes the lender will just rent to you. But generally, you will get a notice from the realtor to vacate. This may or may not be accompanied by a C4K offer. If you are still in the house after that, you will get a visit from the sheriff. The sheriff will move you for free. Only thing is that will just be to the curb.
  4. JayBet98

    JayBet98 LoanSafe Member

    Ha! I definitely don't wanna stay til the Sherriff shows, and not even really interested in renting (this house is way too big for me and my 2 kids), I suppose I'm just trying to maximize the "free rent" until I do have to move! I would hate to move before the auction, then find out it postponed for 3 more months, but I guess I'll have to figure out what kinda stress level and quick move I can tolerate!
  5. whatsnext

    whatsnext LoanSafe Member

    JayBet98, did the sale get postponed?
  6. JayBet98

    JayBet98 LoanSafe Member

    I didn't pursue any options to postpone it, and it went right as scheduled. Opening bid was $83,200, and it sold for $89,000. I happened to be home that day and 3 different people came by to check and see if it was occupied--the last one was right during the auction and was on the phone with someone that was bidding.

    It sold to an investor of some sort, but I still got $1500 Cash4Keys because I got out within 3 days. I'm glad to be rid of it, but I must say that AHMSI acted TO THE DAY on everything...there was no extended time at all.
  7. Jeffrey L. Shurtliff

    Jeffrey L. Shurtliff LoanSafe Member

    After my sale the sheriff has come to the house three times at the request of the bank to repo. No dice have stopped them with Judicial law. They went away for the third time and filed an unlawful detainer. I am stopping that with Judicial law also.

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