Re: foreclosure timeline

Posted by Janie on November 28, 2004 at 23:44:59:

In Reply to: foreclosure timeline posted by Rod on November 28, 2004 at 09:43:08:

I'm not absolutely sure this applies in your state, but I think the standard time frame for a non-judicial foreclosures is 120 days.

The clock starts tick once you've been served with the Notice of Default. You then have 90 days to cure the default. The NOD will state how long you have to cure.

If you fail to cure the default within that time, a Notice of Trustee's Sale is filed and then served on you at or on the 91st day. That document will show you the time and place for the scheduled auction of your home.

The auction is typically scheduled on or about the 120th day.

After the auction, nothing will probably happen right away because of the redemption period. Check you state's redemption laws to see how long you have to buy back your home.

: Can someone please tell me what the time period from notification of intent to foreclose to the time one would have to vacate. This is in the state of Minnesota.

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Comments:
: I'm not absolutely sure this applies in your state, but I think the standard time frame for a non-judicial foreclosures is 120 days.

: The clock starts tick once you've been served with the Notice of Default.  You then have 90 days to cure the default.  The NOD will state how long you have to cure.

: If you fail to cure the default within that time, a Notice of Trustee's Sale is filed and then served on you at or on the 91st day.  That document will show you the time and place for the scheduled auction of your home.

: The auction is typically scheduled on or about the 120th day.  

: After the auction, nothing will probably happen right away because of the redemption period. Check you state's redemption laws to see how long you have to buy back your home.



: : Can someone please tell me what the time period from notification of intent to foreclose to the time one would have to vacate.  This is in the state of Minnesota.


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