Saturday, February 18, 2012

Foreclosure mis information

Once your home is foreclosed on no sheriff comes to the door immediately and throws you out, you have time.  Generally within 24-48 hours a notice is posted to your front door (or served--usually by a Realtor) which gives you about three days and most times offers you cash for keys.  At MINIMUM get the cash.  If you don't leave after the three days the bank still has to work to get you out.  On two of my properties it took the bank 6 months to actually get possession back from us.  Also the sheriffs aren't scary (if you ever have to deal with one), they actually feel sorry for you and the ones I have dealt with were very nice.  If you leave the house prior to all this you open it for vandalism and believe it or not the bank can come after you for that.  And stressing won't stop the inevitable if it's coming, so don't stress, strategize about what you're going to do.  Lastly remember this is a moment of time in your life and you are not alone.

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