Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I completely understand that. But when you have a sudden unexpected death and spent every penny to your name to bury your wife and raise 4 children solo has been hectic. I just needed help with the laws we are trying to get into an apartment but it won't be ready till February 5th so needed to know if there was any leway from the 20th when auctioned to the 5th.
Thank you all
Thirty days is probably the most the bank will give you. Don't play hardball, they will evict you. However, if an investor has bought the home and wants to rent it, you might be able to stay. I'm not a gambler, so I'd be preparing to stay in a hotel until 2/5.
I completely understand that. But when you have a sudden unexpected death and spent every penny to your name to bury your wife and raise 4 children solo has been hectic. I just needed help with the laws we are trying to get into an apartment but it won't be ready till February 5th so needed to know if there was any leway from the 20th when auctioned to the 5th.
Thank you all
I'm sorry for your loss.
If the property will not be auctioned until January 20th, there will probably be some delay until the sale is complete and the new owner probably still has to give you at least 30 days notice to vacate*. So it appears to me that you should be able to stay easily until Feb. 5th or later.
*I have not dealt with a foreclosure before but it appears adjusterjack has it correct.
Quote:
Originally Posted by adjusterjack
The statute that was effective in 2016 is 57-1-25.5 and requires that the new owner give you 45 days written notice.
Coworker's home was foreclosed when he filed for bankruptcy.
He lived in the house rent free for nearly two years until the auction. The bank said they were fine with him living there as it lowered their insurance rate and he kept the pipes from freezing and robbers from stealing the furnace and copper wiring.
IIRC, he lived there for sometime after the auction as the new owners needed time to schedule the remodeling crew. It was all quite civilized.
I'd suggest you call the bank and ask what your situation is and how this is usually handled after the auction.
If it is sold at auction on the 20th, the new owners might be fine with you living there for three more weeks in lieu of going through the trouble and expense of eviction.
Don't move yet! The bank will buy the house at the foreclosure, because property is probably mortgaged for more than it's worth. Eventually, the bank will contact you - don't reach out to them! Banks take a long time to do anything. If you had a security deposit, the bank needs to refund that to you. It is very likely that they'll offer you a few thousand dollars to move out quickly.
So, get ready to move. Pare down possessions, scout out rentals. But don't move out yet. You could be passing up a significant payout from the bank.
Don't move yet! The bank will buy the house at the foreclosure, because property is probably mortgaged for more than it's worth. Eventually, the bank will contact you - don't reach out to them! Banks take a long time to do anything. If you had a security deposit, the bank needs to refund that to you. It is very likely that they'll offer you a few thousand dollars to move out quickly.
So, get ready to move. Pare down possessions, scout out rentals. But don't move out yet. You could be passing up a significant payout from the bank.
Thanks for your advice the bank is giving use some extra time sense Utah law gives 45 days they told us we have till March 5th and they are even offered $2k if the place is left without serious damage
Thanks for your advice the bank is giving use some extra time sense Utah law gives 45 days they told us we have till March 5th and they are even offered $2k if the place is left without serious damage
I'm glad to hear that. I was going to respond that in almost no situation where you pay rent on a monthly basis can you be put out summarily without a notice, typically 30 to 60 days. Glad its working out for you.
Clean, clean clean for that $2K.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
