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about foreclosure?

my brother-in-law is trying to work a deal with my mortage company, so we do not lose our home. but here's my question: if our home does get auctioned off, how long do we have before we have to be out. we are in flint michigan, and have no were else to go. any investors out there? we need help. our mortage company is nothing but a bunch of liars. i also got this loan with a 536 credit score, should not have gotten this loan. why did i? krjones i wish i could e-mail you!

Public Comments

  1. You got it because of preditory lending. You can sale your home to your brother in law if he can secure a loan. You can sale to anyone that can get a loan. That way your credit will not be ruined.
  2. When the home gets turned back over to the bank, you are going to have to be out. This will happen before the auction is held, the bank has to have possession of the property first. I hope you can work something out with them, but if not you are going to have to make alternative living arrangements sooner rather than later.
  3. So its all your mortgage company's fault?
  4. Sometimes it depends on the bank. They can't just kick you out like that. You may even have up to 6 months. What you do is find you a realtor and list your home on a short sale. Once that is done, write your lender a hardship letter and an authorization for your realtor to handle all information; that way it's okay for you not to make payments. If someone bids on your house,again, let the bank know (if your home is bank owned already) that you have a potential buyer and to give you time. And if the bank gives you a deadline to vacate, they usually pay moving cost; roughly $700. Depends. Besides, Bush passed the bill so that you'll be forgiven. This won't affect your credit. Just pay back the money you didnt spend. You don't want to be further in the whole.
  5. Your lender can tell you how long you have to live in the house before the eviction notice is sent. You could sell the house or rent it out.
  6. Hi, I used "Credit Solution" to settle my debt and recover avoid foreclosure.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here: http://www.x.se/a5nf
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