How long does it take for a foreclosure and how soon do you have to leave the property? 5 Answers as of August 01, 2013

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Richard L. Hirsh, P.C. | Richard L. Hirsh
Under most circumstances an Illinois judicial foreclosure of your residence takes a minimum of 8 months to complete from the date the court obtains personal jurisdiction over you.
Answer Applies to: Illinois
Replied: 8/1/2013
Stacy Joel Safion, Esq.
Stacy Joel Safion, Esq. | Stacy Joel Safion
As a little as 4 months or as long as several years. No, you don't have to leave the property immediately after a foreclosure.
Answer Applies to: California
Replied: 8/1/2013
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
It can take years depending on the bank, the judge and the foreclosing attorney.
Answer Applies to: New York
Replied: 8/1/2013
Mark S Cherry, Attorney at Law, PC
Mark S Cherry, Attorney at Law, PC | Mark Cherry
It varies based on how long the process takes but generally at least six months.
Answer Applies to: New Jersey
Replied: 7/31/2013
Frank Law Group, P.C.
Frank Law Group, P.C. | David E. Frank
Foreclosures in California take a minimum of 4-6 months once the foreclosure process officially starts through the issuance, publication and recording of a Notice of Default. However, lenders often don't start that process until after the borrower is at least three months behind in payments. Once the foreclosure is completed, the foreclosing lender or foreclosure sale purchaser normally will offer the occupant "cash for keys" in which in exchange for vacating the house and leaving it in good and clean condition with 20-45 days, the occupant upon vacating is paid anywhere from $1,000 - $7,500. If the occupants refuse to vacate after the foreclosure sale, the purchaser at the foreclosure sale (whether it's the lender or a third-party purchaser) must initiate an eviction lawsuit. The eviction lawsuit can take 2-4 months to make its way through the system. Once the eviction judgment is obtained, the sheriff posts the property with a five-day notice to vacate. If the occupants are still there at the end of that five-day period, the sheriff physically removes them from the property.
Answer Applies to: California
Replied: 7/31/2013
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