Real Estate

Did You Receive An Eviction Notice? Don’t Do Anything Until You Read This.

Past week I received a question from one person worried to receive an Eviction Notice:

“I have six months not paying my mortgage, and I am worried about it. My question is if the sheriff can take me out with my family anytime now?”

My response was: Nobody can take out you from your home if they dont have an EVICTION NOTICE FROM COURT. Period. You have to know the eviction process under your state eviction laws, though. Some states are into a JUDICIAL foreclosure system and others into a NON-JUDICIAL foreclosure system. The website foreclosurelaw.org has everything you need to know about it.

Generally, this is the whole EVICTION process (some states put different names on each one):

1. In Default.- (30 to 90 days late)

2.- NOTICE OF DEFAULT (NOD).- The 90th day being late, your bank will send you a Notice of Default, stating that if you dont pay, they will send your case to foreclosure.

3.- NOTICE OF SALE (NOS).- When you reach the 120th day being late on your payment, you will receive a Notice of Sale stating when and where will be the public sale of your home.

4. Foreclosure (FC).- After (generally) 2 months of the NOS, the foreclosure sale will be made. Some states take more months for this. (you can stay free at the property)

5. Reinstatement.- After the FC sale, there is a period of REINSTATEMENT, where you can apply to stay more in your property with the reason to find a mortgage that qualifies you to repurchase the property. (It is in around 50% of the states)

6.- EVICTION: Following the foreclosure sale, or the end of the reinstatement period, you will be reached by the new title-holder of the property asking you to leave the property. If the property was bought back by the same lender, they may give you some money to leave the property clean and in good condition (this is called Cash for Key). If you don’t leave, after 30 or 45 days they can start an EVICTION PROCESS AT COURT. The Judge will send you an EVICTION NOTICE including the date when you must leave. If you dont leave that day, the sheriff will go to the property to take you out and change the locks. If they lock the doors with your belongings inside, you cannot take them out anymore.

Under your eviction laws, you are protected until the last day. A homeowner can stay without making payments to the mortgage until the last day of the eviction notice.

REMEMBER THAT NOBODY CAN TAKE OUT FROM YOUR HOME JUST BECAUSE. THEY NEED AN EVICTION NOTICE FROM COURT ON HAND TO ENFORCE THE EVICTION LAW.

There are a lot of states allowing homeowners to stay into the property up 18 months without making payments to their mortgage. You need to check the laws of your state.

YOU WANT TO AVOID FORECLOSURE. Learn how to do it.

Remember, I am not an attorney, accountant, tax adviser or real estate guru giving legal, tax or financial advice. This blog is not a substitute for the advice of a competent attorney. Although I am a Financial Educator in the State of Arizona doing Foreclosure Consulting, Residential and Commercial Loans, Mortgage Training and Consulting, Real Estate investments, Business Coaching, Marketing and Credit Counseling since 2002, I do not claim to give you legal advice in this blog to your specific circumstances. This blog is intended to educate homeowners in default of their mortgage. Nothing enclosed in this blog should be construed to constitute advice for your personal circumstances. The information provided in this blog is provided just for personal information. Under no circumstances does the information in this content represent a legal recommendation to sell, buy or hold any property.

Learn more about the Eviction Notice. Stop by The Official Foreclosure Secrets Guide website where you can find out all about The Eviction Process and what it can do for you.

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