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What Happens Once The Foreclosure Of Your Home Has Taken Place?

Mar 18, 2008
Due to the fact that you were unable to continue making your monthly mortgage payments, you were eventually faced with foreclosure upon your home. There are some instances when you can fight this and even win but most of the times it is not something that will do you any good, if you did not make your payments, you lose your home to foreclosure. If this is something that has happened to you and you are a little bit curious about what the next proceedings will be, after the foreclosure has occurred, then you are definitely in the right place.

Throughout this article I am wanting to talk with you some more about what all really happens after the foreclosure of your home has been completed. There will more than likely be some type of court hearing that you will have to attend. If you choose not to attend this court hearing regarding the foreclosure of your home, there is absolutely no way that the judge would feel the least bit sorry for you and there will be no possibility of changing the situation at hand.

Even when you do attend the court hearing and explain your situation to the judge it doesn't guarantee you will have any success. The bottom line is that you broke the agreement to keep current with your mortgage payments over the years. By breaking this agreement foreclosure is an inevitable outcome and the judge may not be able to help you as you would have liked.

After the court hearing the deeds to your property will be auctioned off. You will also be told that you need to pack everything up and move out of your house by a certain date. You are now legally obliged to comply with this request since the property is no longer yours and the police could get involved to remove you if you refuse to go as requested.

You have no legal rights to the home or property from this moment on. The mortgage company that provided you with the loan to purchase your home will have all legal rights to your home and property. The entire foreclosure proceedings typically do take up to about 3 months. So, with that said, if you fear that you might be in potential danger of receiving a foreclosure notice, do something before that time frame is up.

If you don't take action soon enough and the proceedings get underway then it is quite possible that you have left everything too late to stand a chance of being able to do anything about your situation. You need to make sure that you remain on top of things at all times rather than just sitting back and watching while your home is taken from you.
About the Author
For more information about florida foreclosures check out http://www.stopbankforeclosurenow.org
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