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Question: I have received a notice through a realtor that my mortgage co. is offering me a Relocation Assistance Agreement. I am in foreclosure and they are offering me 2,000 if I sign the agreement and move out within a month. They say that all needed repairs to the home will be deducted from the $2,000. This is an old home built in 1954 and is in need of some repairs. They will proceed with eviction if I do not sign the agreement. How long do Eviction Proceedings take? How long before I will be forced out of my home?

Answer:

If you haven't already done so, you may want to talk with your mortgage company directly. It is not clear from your question whether you are renting a home that is in foreclosure or whether you own a home in foreclosure.

If you are renting a home: Eviction proceedings can take as little as 10 days but most likely closer to 30. You may want to talk to the mortgage company and ask that all normal wear and tear on the home will not be deducted out of the $2,000. This may be possible as the mortgage company is simply trying to ensure that you do not damage the house on the way out.

 

Comments:

QUESTIONS

  • I have received a notice through a realtor that my mortgage co. is offering me a Relocation Assistance Agreement. I am in foreclosure and they are offering me 2,000 if I sign the agreement and move out within a month. They say that all needed repairs to the home will be deducted from the $2,000. This is an old home built in 1954 and is in need of some repairs. They will proceed with eviction if I do not sign the agreement. How long do Eviction Proceedings take? How long before I will be forced out of my home?

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