[Blonde Villalobos]

auction what happens next? My house was foreclosed on and the lender purchased the property...do they usually give you only 30 days to vacate or do they wait until they sell the property to ask you to vacate the house.

[jms_mald1]

Sorry about your troubles. They will give you some options, such as they will give you 30 days to vacate. Also,they will ask would you to lease back the property,if you say no,than you will have at least 3 months to stay because you have no place to go. Or they can offer you some money to vacate for moving expenses. Good luck.

[timber wolf]

It all depends. Usually after a foreclosure then you get a notice to vacate - but you should be served a 30,60, or 90 day notice depending on your state laws, which should give you time to find another place, so If I were you, I'd wait to move until notified. But do indeed move the stuff you want. Once your notice is up, the sheriff can and will evict you to the curb (well the contractor the bank hired will, but the sheriff stands around eying what stuff he can come back and get!)Sorry about your foreclosure and better luck in the future!

[Leslie Burgoyne]

So the home is sold at foreclosure auction. what happens next? (this answer applies to Texas only)First, a document called "substitute trustees deed" is filed in the county property records. The person or entity who purchased the property (usually the bank who owned the mortgage in the first place) then must determine whether the property is occupied. So they send a person to the house to see if anyone lives there. If someone lives there, they attempt to contact that person to determine if it is the homeowner or a tenant. If it is a tenant with proof of a valid lease, the new owner must honor the lease obligations. So rent would be paid to the new owner now instead of the old owner.If it is occupied by the prior owner, a "cash for keys" offer is usually made. This means that the mortgage company offers a small amount of money for the person to leave the property by a certain date and leave the property in good condition. If the offer is rejected or ignored, then a forcible detainer action (an eviction) is filed by the new owner against the old owner in the local Justice of the Peace Court. The occupant is served with notice of the eviction proceeding and is given an opportunity to appear in court on his or her behalf. The occupant always loses those cases, but then has 5 days to appeal to the County Court. the Justice of the Peace will set a bond amount that must be posted in 5 days, usually equal to one month's payment but sometimes is more. By posting bond, you can buy yourself two to three more months of time.Additionally, many times the mortgage company has not crossed all the T's and dotted all the I's prior to foreclosure. If there is a violation of the procedure, then a Wrongful Foreclosure case can be filed and a Restraining Order can sometimes be obtained to prevent the eviction from moving forward.