Facing Evictions Notice After Losing a House to Foreclosure

Many homeowners do not desire to move out of their homes, even after a foreclosure lawsuit, judgment, and sheriff sale. in spite of having six months to a year to live mortgage free, certain borrowers are just not financially able to move when required by the courts and the purchaser at the auction. In such cases, the lender, which as a rule purchases the home at the sale, will begin the eviction process.

Not many homeowners, though, know exactly what the eviction process entails after the foreclosure has been done. Many of them simply trust that the court will have the property sold, and a few days later, the county sheriff will show up unannounced to throw all of the people and belongings out into the street, changing the locks in the process. However, this is not how the usual eviction New York goes.

If the debtors are successful in their efforts to set aside the sale, then there will be no eviction at all. In the vast majority of situations, though, once the auction has been conducted, it will have to be confirmed. Upon the ratification of the sale, the former owners become tenants, and their rights to keep ownership of the home terminate. If there is a redemption term under state foreclosure law, this will have to be passed before eviction can continue.    

Homeowners still remaining in the property after the ratification and redemption period will have an eviction action brought against them by the purchaser. The steps of this process are determined by state law, as with many other aspects of the entire foreclosure.  

It is important for former homeowners to research how their state treats occupants remaining after a foreclosure. Several states use the same procedures that are used to evict tenants from rental properties.  

In either situation, though, the purchaser at auction must follow the correct procedures to evict the former owners. If the new owner try to use an eviction process that is not suitable for former owners of a foreclosed house, the action may be thrown out of court until the right steps are taken.