When You Have To Move Out Of Los Angeles Foreclosed Homes

When You Have To Move Out Of Los Angeles Foreclosed Homes

If you are going through default on your house and it is soon to be one of the many Los Angeles Foreclosed Homes, you do not have to move out as soon as you get a notification. Many people think that they have to be out of the home right away and this is not the case.

When you receive notification from the bank that you have defaulted on your home loan and the foreclosure process has begun you do not have to move out right away. The process is simple but the move out process can actually take some time.

There are many notifications that you will receive from the lender prior to losing your home and it becoming foreclosed. The first notification will tell you that you have defaulted on the loan and it is called the notice of default. This is sent out after you have missed a payment or two. The lenders will also call you on a daily basis to work with you on catching up on your payments. The second notification will give you options to avoiding a foreclosed property and the final notice will tell you about the sale of the auction. The final notification is usually received from the bank 3 to 4 months after you have failed to make a payment. The notification will have a set date on it of when the auction will take place.

During this time, you can remain living in your home up until the date of the auction. You should be prepared to move out soon when this date nears. If the home sells at the auction then a sheriff’s office may have you removed as quickly as 3 to 10 days and they may take all of your belongings also. If the house doesn’t sell at the auction then you might even have more time in the home but you should expect that the sheriff’s office will post a notice any day to have you removed from the home.

When you default on a loan and your house becomes one of the many Los Angeles Foreclosed Homes on the market, there is time to find a place to live and get money together for these expenses. In most foreclosing properties, the process can take a minimum of 6 months and more than 1 year. This is plenty of time to save up money to get into another home.

Related: why is my house so dusty

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *