Timeline of a foreclosure???

[temeculaguy]

Here’s the scenario and I bet it’s happening to others. The place I rent is about to go into foreclosure, how much time on average do I have and what are my rights/options. Notice of Default will probably come within a week. December rent is paid and some repairs that I had to make in agreement with the landlord, I paid and was going to count that as my January rent. I’ll never get my deposit of one months rent back and have already informed the landlord that I will be calling that my February rent. The lease technically expires after that and was to convert to a month to month lease but I am paid through February and a little worried that the process will happen faster. I would gladly negotiate with the bank and pay them rent during the process if it goes beyond February and I would prefer to stay a few months longer so I can lowball some repos and move when I’m ready rather than go sign another lease but at least I’d like to stay for the time I have paid for. I am not looking to get anything free or stay for any time that I don’t pay for. Does anyone have any experience with this? I know repos take six months or longer from nod to listing but when do they get rid of renters?

[SD Realtor]

Soonest trustee sale is around 110 days from the NOD.

More details are as follows:

Day 1
Record Notice of Default

Within 10 business days
Mail and publish Notice of Default

Within 1 month
Mail Notice of Default

After 3 months
Set Trustee sale date

25 days before sale date
Send notice of sale to I.R.S.(when necessary)

Within 10 days from 1st publication
Send beneficiary request for property directions

14 days before sale date
Record Notice of Sale

7 days before sale date
If court action, 7day rule may apply

5 business days before sale date
Expiration of right to re-instate the loan

Sale date
Property is sold to highest bidder at public auction (aka trustee sale)

SD Realtor

[SD Realtor]

Soonest trustee sale is around 110 days from the NOD.

More details are as follows:

Day 1
Record Notice of Default

Within 10 business days
Mail and publish Notice of Default

Within 1 month
Mail Notice of Default

After 3 months
Set Trustee sale date

25 days before sale date
Send notice of sale to I.R.S.(when necessary)

Within 10 days from 1st publication
Send beneficiary request for property directions

14 days before sale date
Record Notice of Sale

7 days before sale date
If court action, 7day rule may apply

5 business days before sale date
Expiration of right to re-instate the loan

Sale date
Property is sold to highest bidder at public auction (aka trustee sale)

SD Realtor

[SD Realtor]

Soonest trustee sale is around 110 days from the NOD.

More details are as follows:

Day 1
Record Notice of Default

Within 10 business days
Mail and publish Notice of Default

Within 1 month
Mail Notice of Default

After 3 months
Set Trustee sale date

25 days before sale date
Send notice of sale to I.R.S.(when necessary)

Within 10 days from 1st publication
Send beneficiary request for property directions

14 days before sale date
Record Notice of Sale

7 days before sale date
If court action, 7day rule may apply

5 business days before sale date
Expiration of right to re-instate the loan

Sale date
Property is sold to highest bidder at public auction (aka trustee sale)

SD Realtor

[SD Realtor]

Soonest trustee sale is around 110 days from the NOD.

More details are as follows:

Day 1
Record Notice of Default

Within 10 business days
Mail and publish Notice of Default

Within 1 month
Mail Notice of Default

After 3 months
Set Trustee sale date

25 days before sale date
Send notice of sale to I.R.S.(when necessary)

Within 10 days from 1st publication
Send beneficiary request for property directions

14 days before sale date
Record Notice of Sale

7 days before sale date
If court action, 7day rule may apply

5 business days before sale date
Expiration of right to re-instate the loan

Sale date
Property is sold to highest bidder at public auction (aka trustee sale)

SD Realtor

[SD Realtor]

Soonest trustee sale is around 110 days from the NOD.

More details are as follows:

Day 1
Record Notice of Default

Within 10 business days
Mail and publish Notice of Default

Within 1 month
Mail Notice of Default

After 3 months
Set Trustee sale date

25 days before sale date
Send notice of sale to I.R.S.(when necessary)

Within 10 days from 1st publication
Send beneficiary request for property directions

14 days before sale date
Record Notice of Sale

7 days before sale date
If court action, 7day rule may apply

5 business days before sale date
Expiration of right to re-instate the loan

Sale date
Property is sold to highest bidder at public auction (aka trustee sale)

SD Realtor

[HLS]

Temec…
Usually 3 months to NOD, then 3 more months to schedule sale, and about 20 days after that, at the earliest..

The house is still your landlord’s until the trustee sale.

I don’t think that the servicer will contact you until after the sale, and some are taking much longer than 6 months, esp when it involves a jumbo loan (over $417K)

I’d guess that you have well into April..
and someone may even offer you money to vacate after that!

[HLS]

Temec…
Usually 3 months to NOD, then 3 more months to schedule sale, and about 20 days after that, at the earliest..

The house is still your landlord’s until the trustee sale.

I don’t think that the servicer will contact you until after the sale, and some are taking much longer than 6 months, esp when it involves a jumbo loan (over $417K)

I’d guess that you have well into April..
and someone may even offer you money to vacate after that!

[HLS]

Temec…
Usually 3 months to NOD, then 3 more months to schedule sale, and about 20 days after that, at the earliest..

The house is still your landlord’s until the trustee sale.

I don’t think that the servicer will contact you until after the sale, and some are taking much longer than 6 months, esp when it involves a jumbo loan (over $417K)

I’d guess that you have well into April..
and someone may even offer you money to vacate after that!

[HLS]

Temec…
Usually 3 months to NOD, then 3 more months to schedule sale, and about 20 days after that, at the earliest..

The house is still your landlord’s until the trustee sale.

I don’t think that the servicer will contact you until after the sale, and some are taking much longer than 6 months, esp when it involves a jumbo loan (over $417K)

I’d guess that you have well into April..
and someone may even offer you money to vacate after that!

[HLS]

Temec…
Usually 3 months to NOD, then 3 more months to schedule sale, and about 20 days after that, at the earliest..

The house is still your landlord’s until the trustee sale.

I don’t think that the servicer will contact you until after the sale, and some are taking much longer than 6 months, esp when it involves a jumbo loan (over $417K)

I’d guess that you have well into April..
and someone may even offer you money to vacate after that!

[HLS]

Do you know when his last payment was ?
Why do u think NOD will be within a week ?
At this time of year, it may not arrive until January.

[HLS]

Do you know when his last payment was ?
Why do u think NOD will be within a week ?
At this time of year, it may not arrive until January.

[HLS]

Do you know when his last payment was ?
Why do u think NOD will be within a week ?
At this time of year, it may not arrive until January.

[HLS]

Do you know when his last payment was ?
Why do u think NOD will be within a week ?
At this time of year, it may not arrive until January.

[Author]

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