foreclosures

Status
Not open for further replies.

conflicted

New Member
Currently I am going thru the foreclosure process. I have gotten some conflicting information regarding what will happen when its all over as far as what I will be responsible for financially. (taxes, lenders money lost) I've tried to do a short sale, however that was rejected from the lender. Now, I am trying to do a deed in lieu of foreclosure. My ex-boyfriend who is on the title not the mortgage, refuses to vacate the property. I on the other hand have already moved out. What can I expect to be responsible for after the foreclosure is finished. The sheriff sale is scheduled for March 11, 2008. If I do a deed in lieu of, does that force my ex to vacate the property sooner or can he ride the 6 month wave like he is expecting. I dont have access to the property because he has already changed the locks (against my will) please give me a heads up what I can anticipate for the future. I wont to move on and make this process as easy as possible...thanks conflicted in MN
 
Generally, you could be liable for any deficiencies (i.e., the land sells for $100K but it is mortgaged for $150K).

Also, the buyer will probably have to use an eviction lawsuit to get anyone out of the house.
 
Status
Not open for further replies.
Back
Top