Many families who are behind on payments live in fear that the Sheriff will come with no notice and throw their family out of the house. They are also afraid of every knock on the door.
I help many families avoid foreclosure by negotiating a short sale with their lender. I speak with distressed sellers every day. I am acutely aware of these fears.
Homeowners Are Afraid They'll Come Home To A Locked Up Vacant House
Numerous times sellers have asked me or told me that they are afraid that they will come home from work and all of their possessions will be thrown out on the sidewalk and their see their kids sitting on the steps crying.
To all homeowners in Louisville, Jefferson County, Kentucky, please let me say that this is a myth.
The sheriff and no one else can show up unannounced and throw you out during the foreclosure process.
No One Can Throw You and Your Possessions Out Prior to the Foreclosure Auction
The house has to first be sold at the foreclosure auction. There is a big difference between being served with foreclosure papers and the house actually getting lost to auction.
You will get several letters and notices from the lender’s attorney and from the court system with the actual court sale date.
The court system is supposed to staple a notice on your door about 3 weeks prior to the auction.
Even after the house is “sold” at auction, it still takes weeks or months for the deed to be transferred to the new owner.
From the day the sheriff deputy serves you with foreclosure papers it could take 4 months to a year or more until the foreclosure auction occurs.
Although it is extremely stressful, the homeowner must open all mail. Any notices should be forwarded to the short sale Realtor or to a legal adviser.
Consult With A Lawyer To Find Out Your Exact Rights
To find out your best options to avoid foreclosure, call a Realtor who specializes in short sales. Also, a real estate attorney, especially one who specializes in foreclosures and evictions can spell out the best options you have regarding staying in your home during the foreclosure process.