recontrust foreclosure
How long after the house is sold in a foreclosure?
We received a letter of foreclosure from some debt collector(Recontrust) mostlikely hired by countrywide. The letter said that the house would go up on auction on June 11, we are currently though looking for a apartment.
1) What I wanted to know is what happens if the house is sold on that day? if it is sold then about how much time to do we have left before we have to move out?
2) What if the house is not sold on that day or over a course of two weeks, then does that mean that we can still live at our home just a bit longer? or will we be asked to leave the house even if the house is still on sale.
WE LIVE IN VIRGINIA
On June 11th the house will be sold either back to the bank for the loan amount or to a third party. Banks would like to see it sold to another for the outstanding loan amount. Usually the starting bid. The house WILL be sold that day! Either way you NO LONGER own the property. You need to move out before this date or other legal action will be taken.
