Hey you guys Carter here with CB Home Solutions and today we’re going to discuss how long you have to move if the bank is foreclosing on your house. So if you are facing foreclosure and you want to sell your house before that actually happens, just contact us here today. Call us on our office line or submit the form down below. But to get started, what are your options when you’re facing foreclosure, how long do you have to move.
In general, the foreclosure process in Wisconsin takes quite a bit of time and I’m not talking 30 days, 40 days, 50 days, I’m talking four or five, six months from the time that you quit making your payments til the time that they actually come around and foreclose and the house is typically about that four to six month mark because you have 30 days of late payment oh sorry, 90 days of late payments means that they will file with the court system which is three months and then upon them filling with the court system, it could take them a significant amount of time to foreclose on your actual mortgage depending upon how things are structured, or they could do it fairly quick.
So it really depends upon your lender on how long the foreclosure process takes. But to answer your question, how long can you live in your house before the bank forecloses on it? With that being said, you can live in there up to the date of foreclosure. Once it’s foreclosed upon, what would happen is the bank will send the sheriff out, they would essentially evict you out of the house. They would file an eviction, everything like that, take all your stuff out, it would be thrown in the street, et cetera. So in most cases homeowners tend to move out before the house is actually foreclosed upon. Another reason why that is, is because the utility companies are probably going to be after you for past due utilities if you have not been paying those.
So that’s kind of what you’re facing when you are about to be foreclosed upon. How long you have to move during the foreclosure process is I would say probably within that three to four month timeframe. Once you become delinquent on your payment, if you cannot catch a back up, try and seek and find a solution to your foreclosure problem or process. Like I had mentioned previously, contact us here at CB Home Solutions. I’ll talk with you directly, walk you through the steps in the foreclosure process, and then we can figure out together what might be the best situation scenario for you. Is it best that we buy your property outright? Do you have enough equity to list it on the market or is it in terrible condition we need to try and negotiate a short sale. So those are the very brief explanation in the options, like I said and mentioned, contact us, give us a call, fill out the form below. I appreciate you guys watching this and if you’re facing foreclosure, please do not delay. We can help you right away. Have a great day.
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