Did You Receive An Eviction Notice? Don’t Do Anything Until You Read This.

Past week I received a question from one person worried to receive an Eviction Notice:

“If you live in a house and are losing it , have been living in it for 6 months paying no mortgage, will they just show up at our door and say ok you have to leave? or will we get some kind of 30 notice to leave?”

Answer: It will depend in your state. Some states are under a Judicial foreclosure and others under a Non-Judicial foreclosure system. You may want to understand the Foreclosure Process and the Eviction Laws of your state. Look at foreclosurelaw.org

To understand the EVICTION PROCESS, you need to learn the following common points (although every state is different, and using different names for every point):

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 (NOS).- When you reach the 120th day being late on your payment, you will receive a Notice of Sale stating when and where will be the public sale of your home.

4.- FORECLOSURE SALE (FC).- Depending in your state, it can take from 2 months to 18 months for the sale of your property after the NOS. All this time you can legally stay at your home without making payments.

5.- REINSTATEMENT PERIOD.- Around 50% of the USA states use to give by law a period of Reinstatement once the property was foreclosed, so you can find a loan to purchase again the property. It also gives a legal permission to stay into the property rent free for a determined period of time. Do your state allows Reinstatements?? If so, for how long?

6.- EVICTION.- MUST BE AN OFFICIAL NOTICE FOR THIS. When the property is already sold, or the Reinstatement Period is over, you will be contacted by the new owner or a representative. They may offer you CASH FOR KEY if you leave the property the next couple of weeks (or more) in good conditions. If you didn?t leave after 30 or 45 days, the new owner MUST FILE A COMPLAINT IN COURT, to start the Eviction Process and get you out from the property under the eviction laws. Then, you will receive an EVICTION NOTICE from a Judge, stating that if you dont leave on a DETERMINED DATE, the sheriff will go to the property to take you and your family out of the property and lock the doors. You will not be able to take out your belongings after that.

Don’t forget you have legal rights. Homeowners can stay rent free into their home until receiving an official notice from court. See your eviction laws.

NO ONE CAN LEGALLY TAKE YOU OUT OF YOUR HOUSE WITHOUT A LEGAL EVICTION NOTICE FROM COURT. EVEN A POLICEMAN OR SHERIFF MUST BRING THAT EVICTION LETTER WITH HIM TO EVICT YOU.

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.

Disclaimer: You need to know that I am not a lawyer, or an accountant, or a tax counselor giving you lawful, tax or financial advice. This information is not a replacement for the opinion of a experienced lawyer. Even though I am a Financial Educator in the State of Arizona doing Real Estate investments, Business Coaching, Marketing Coaching, Credit Counseling, Foreclosure Prevention, Residential and Commercial Loans, Mortgage Training and Consulting since 2002, I do not say I am giving you legal counsel in this article to your explicit situation. This article is planned to instruct homeowners in failure of paying their mortgage. Nothing within this article should be interpreted to represent legal advice for your individual conditions. The information given in this article is presented only for individual information. Under no conditions this article stand for a legal counsel to market, purchase or keep any house.

Learn more about the Eviction Notice. Stop by The Official Foreclosure Secrets Guide website where you can find out all about The Eviction Process and what it can do for you.