The Eviction Laws can be misunderstood by many homeowners and an Eviction Process can be really intimidating for many home owners in default. I received recently, a question from a homeowner in stress:
“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.- DEFAULT: This period is between the first 30 days to 90 days being late in the payment of your mortgage.
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: Generally at 120 days late on your mortgage, a Notice of Sale will arrive at your home from a lawyer or a trustee telling you what day and what place will be the auction of your home. You still have the option to negotiate your situation.
4.- FORECLOSURE: After receiving the Notice of Sale your home will be sold in a public auction from two to eighteen months later, depending in your state. This entire period any homeowner can legally continue living into the property without making payments.
5.- PERIOD OF REINSTATEMENT: If your house was foreclosed, you still have a chance to find a loan to buy this property again. For this intention, many states allow you to have a Reinstatement Period on which you can also stay making no payments covered by law. NON-JUDICIAL system states dont have this rule.
6. Eviction.- In order to the new owner take you out from your home, it must be through an official document named EVICTION NOTICE. After the FC sale, you need to leave the property after 2 to 4 weeks depending in the state (some states take months for this), but if you didn?t get out from the property at that time, the new buyer of the property has to file a complaint in court, then an EVICTION NOTICE will be sent to you with a new dead line date, stating the sheriff will take you out from the property with all your family if you don?t leave. On the Sheriffs eviction, the belongings may stay at the property and you will not be able to take it out under the eviction laws.
As a consumer, you have rights. You can stay at your home without making payments, until you have a legal eviction.
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.
Many states allow homeowners to stay legally free at least six months without making mortgage payments. Other states allow up 18 months. See your state laws.
My best recommendation is TO LEARN HOW TO AVOID FORECLOSURE. You can do it yourself. Don?t trust on strange companies that can keep your home for them.
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.