Question : How long does a typicaly foreclosure take?
My friends moms house is going into foreclosure cause his parents are getting divorced, it will start on july 1st, how long should a typical forclosure take? A few months?
- asked by Joshhhhh!
All Answers:
Answer #1
It could be up to 6 months, depending on whetherthe foreclosure is being handled by the local taxauthorities or the lender. If it's a HUDforeclosure, time will be alloted for the house tobe seen by a contractor for winterization (turningoff water, other utilities, removing extremelyunusable carpet).This is after conducting a titlesearch. If the local tax authority is foreclosing,there may be a bidding process, where a bid iswon, however, additional time is given if the bidis upset within a predetermined time (10 days).Noone has to leave, however, until law enforcementcomes with an eviction order, which must beobtained by a court of law. Then there are a setnumber of days in which all parties must leavebefore a padlock is placed on the door.
- answered by Miss V
Answer #2
3 months. ~
- answered by Heinz M
Answer #3
a "typical foreclosure takes 90 days and is themost common stipulation in regard to foreclosure. You can request another time frame for closing inyour contract but if not having done so already,you can be safe in assuming a 90 day time frame.
- answered by ROBERT M
| 
