How long will the bank take evict me from my house after it goes to foreclosure ?
Answers: It could be as long as three months, but it all depends upon the foreclosure law in your state.
Try to work this out with your lender if possible. If there is any way they could work with you so that you can keep your house, try it.
As far as foreclosure i am not sure, it seems like it would take a couple of months at least. Someone will probably come post something on your door stating that it is in foreclosure and it will tell you the date the you have to be out by and i believe that it is usually a couple of months.
The eviction process usually lasts about 2-4 weeks, in most cases. The bank will file a motion with the court asking that the sheriff be ordered to evict you. Once the order goes to the county sheriff, it can take just a few weeks for them to give you notice and then show up a few days later to remove the people and property and change the locks. So the actual eviction process is pretty straight-forward.
However, when this process starts at all varies widely by state. Look up your state foreclosure laws to find out if you have a redemption period either before or after the sheriff sale. Some states give you extra time to remain in the property after the auction, when the bank can not start the eviction process. This is a redemption period.
Some states have a 10 day period, others have 6 months, some even have a year after the sheriff sale. During all that time, the bank can't try to evict you. They can only start the eviction process once the redemption is over.
So look up your state foreclosure laws to find out how much time you have. Otherwise, you might move out too soon or find out about the eviction too late. If you move out too soon, you'll lose valuable time to save money and repair your credit. If you don't hear about the eviction until a few days before, then you may not have anywhere to go.
Good luck.
ForeclosureFish
If my credit score is 654 through one bureau and 724 through another what kind of mortgage rate can i expect.?
Answers: Your downpayment matters more than your score in this case. At 100% financing anything over 620 is going to get roughly the same rates. The difference between the 654 and 724 will only come into play if you have 20% down, or if you are attempting to do a stated income loan. If you can do 20% down you will get the best rates over a 680 score, currently 5.375%. If you go 100% financing the rates are aroung 6%. If you do FHA financing at 97% it's somewhere in between, and since FHA is not credit score driven you can get the same rates with a 654 or a 724 is you quallify. Get a quote and see where you stand.
Edit:
SuperCac is way off base. That is a subrime rate sheet and you ae not going to see that anymore. You either qualify or not. If anyone is quoting you an 8 or 9% rate they are dishonest.
That is pretty good.
Probably around 6% or better.
:-)
depend on which credit bureau the mortgage broker uses
may be from the third one?
all the best
Poor credit can cost you
As shown below, a lower credit score could leave you with a higher mortgage rate. These were the rates about 8 months ago:
FICO Score 30-year fixed mortgage rate
720-850 6.78%
700-719 6.91%
675-699 7.44%
620-674 8.59%
560-619 8.53%
500-559 9.29%
A lot has changed in last 6 to 9 months with sub prime blow up.
anything over a 590 could make loans about 9 months ago. Now for get about that anything over 620 will make a loan. The best loans in the 6% range are for people with 720 score average. I would say you will get a loan offer in the range of 7 to 8%. You have 3 fico scores the average of the three will also be an indicator. The chart someone else put up there is old and by the time you apply that interest offering will not likely be right.
I bet my life anyone with a sub 600 score has a rough time getting money for a mortgage under 12%.
The criteria has changed its stricter now The days of people making loans with a 550 score is dead! Those sub prime loans have no buyer hence the products have disappeared for people in that situation.
Plan on 7 to 8% and try to get a fixed mortgage. Of course a size of down your pmt also has an impact! Have you applied with lendingtree? Or ask your local credit union they are better and cheaper then brokers often. Brokers in todays world may have more problems keeping there promises then they did 9 months ago. by going right to the credit union you will avoid the broker's costs and points he charges in making your loan.
Even the broker's will be shocked this month when the things on there desk get rejected! Study banking in the market place you will see why.
Good luck and hope it helps
SuperCac you have some very bad info. Mortgage companies use the middle score, lowest of the two middle score if there is a co-borrower. If you are a mortgage broker & those are the rates you are quoting you must be making about $15,000 plus a loan. Oh, that would be if anyone was misinformed enough to use you.
Permits for Garage Conversion?
I have a garage near plumbing (e.g., bathroom, toilet), drywall and tile floors, cabinets (sink). The county call and said they got a report that within were unpermitted alterations to the garage (true). I dont want to loose any of this renovations and I usually sleep here or do business stuff. I also use it to put storage. I do not rent it out. But i did close my garage door with drywall, 2 by 4's..etc.. WHAT CAN I DO? is here a fine? will i take it down? or can I carry a permit?Answers: Where I live surrounded by Canada they wont make you cart it down they just endow with you a certain amount of time to get hold of a permit b4 they fine you.
There tyranny will be within the form of a fine as you will need to verbs a permit they will join a fine to it. The work may need the contractor to verbs a permit depending on the regulations and tyranny of your local senate tyrant.
The work will need to be done up to code. This code is unanimously known as the international building codes but some areas are more strict them others.
If its not zoned for residential multi unit for you to be allowed to have it as living space you may be forces to turn it hindmost into a garage. If they don't know about it hang on to your mouth shut and move on and try to procure away with it as long as possible.
As an investor I have a garage apartment on one of my 4 plexes for 10 years before I get caught. I was getting 300 a month for ten years thats over 30k i received contained by rents.I bought that deal on the thought i couldn't rent the garage but i was competent to get away beside it for some time.
Zoning to add garage as living space can be achieve but isnt easy it usually requires paying 500 to 800 surrounded by zoning request that goes to a board. If its a residential hood minus many rentals you could enjoy problems. also the size of the structure will have an impact as to if it can be legalized living space. In most areas you need so much sq foot to make it living space. also green space may be another factor they bring up and parking for the extra section. you should have a plan for parking and green space. I hope this help you get ancient there evil regulatory tyranny! I own been aggression this over regulation of my property rights for years I hope you fair better next me. You will have to traffic with the building inspector for inspections and the city or county planner to return with any zoning changes approved.
You entail to obtain a authorization and an inspection. The inspector will decide if you slash it down or not. (most likely yes)
Some citys fine, others do not. It will be a set excise for constructing w/o a permit, the city planner will enlighten you what it is.