Bank Foreclosure Houses
March 2nd, 2009
Bank Foreclosure Houses
Question: How many months could one not pay their mortgage before the bank put the house into foreclosure?
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Answer: Most lenders will send warnings and threats of foreclosure before actually filing, but after 3 missed payments, you can count on the foreclosure process officially starting.
A better question to ask is: " How long can I stay in my house after I stop making my payments?"
This is where things get interesting! Since the lenders and courts are completely swamped with cases, with the right knowledge and the willpower to take advantage of a messed up system, you can stay in your house for years after foreclosure.
In fact, there are several cases where homeowners are suing the lender, keeping the home, and never making another payment again!
Just remember, it's up to the lender to prove that you are in foreclosure and that they have the ability to foreclose on the home. In many cases, the lender/servicer can't provide the court with the proof needed to legally foreclose on the home.
But if you don't dispute this fact, then the court will allow them to continue the foreclosure and you'll eventually be evicted.
California Foreclosure Listings - CA
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Posted in Bank Foreclosure | 
Tags: Article Bank, bank foreclosure, bank foreclosure houses for sale, foreclosed, Foreclosure, Foreclosure Houses, homes, Houses, realestate
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