Open Question: 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. more…

I am trying to purchase a condo thur shortsale. This is my first time posting a question and it is not related to any other question on this site regarding shortsales. The property has been on the market for 6 months or more. I offered a few thousand less than list price and the bank countered back 14thousand over list price on this shortsale. No other offers on the table as far as I know. I do not understand why my offer has not been accepted. You would think that after a half a year on the market the bank would be willing to settle for a few thousand less than list price. Talk to my agent and I was told the property is going to go to foreclosure now, but the bank has not rejected or denied my offer. Not sure what to do. I do know I do not want to get stuck paying any liens on the property. Not sure what the bank is up to. Any idea?? more…

I put a bid on a house, and was told there was another bid and was eventually asked for me "best and final offer". Two days later, and the lender has refused to tell my realtor anything, but after some badgering was told that the offer was "way off". Now why would I not have heard that my offer was rejected? There is no way to be certain that there is even another offer…or if the other offer is truely higher. I hear that when it comes to foreclosures that this is very common. The whole 'manipulation' to try and get the most money back out of the house. Does anyone have any experience with these? It initially took 20 days to even hear there was an offer…and then all of a sudden I got the "best and final offer" call. Is this just the 'game' they play? It's all very frustrating! more…

What are the pros and cons and how long does the process take? What about a short sale? I've heard they're anything but short! more…

Tags: foreclosure, home equity loan