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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 33754
Experience:  15 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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My home did not sell at forclosure auction...it is REO...how

Customer Question

My home did not sell at forclosure auction...it is REO...how long can I stay in my home ?
JA: Since laws vary from place to place, what state is this in? And has any paperwork been filed?
Customer: Delaware...no paperwork yet
JA: Has anything been filed or reported?
Customer: I got no notice after the auction...realtor just showed up at my house
JA: Anything else you want the lawyer to know before I connect you?
Customer: I read new federal law where lender has to give me 90 day notice?
Submitted: 28 days ago.
Category: Legal
Expert:  Barrister replied 28 days ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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When you say the house did not sell at auction, do you mean that the auction was cancelled or do you mean that the bank bought your house at the sale?

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thanks

Barrister

Customer: replied 27 days ago.
The bank got the house back since no one bid on it. The only way I found out was a realtor knocked the n my door last night and told me the bank had hir d them to sell my home. I researched and found..."new federal law says bank must give me a 90 notice before I have to leave"....... Is this true. Thanks
Expert:  Barrister replied 27 days ago.

Ok, the bank bought it back if they were the only bidder.. They now own it and unfortunately can pursue a formal eviction order from the court as part of the foreclosure case. The lender just has to go to the local Superior court and ask for a writ of possession

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That law I think you are referring to only applies to tenants and it expired as of December 31, 2014. So no, the bank doesn't have to give you 90 days before they can evict you.

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A lender can evict you by requesting a writ of possession from the Superior Court. The writ of possession allows the lender to evict you in a matter of weeks. It is served by a Sheriff. A buyer, unlike a lender, must file a claim for ejectment in the Superior Court to evict you.

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So once the sheriff serves the writ of possession, you will only have a few days to move out before they will return and physically force you to leave.

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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

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thanks

Barrister

Customer: replied 16 days ago.
Thank you......colleen
Expert:  Barrister replied 16 days ago.

You are very welcome. Happy to help any time, even though the news was kind of lousy..

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It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the caption and the JustAnswer employees will get it to me.

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If you feel your original question and any related follow ups have been answered, I would very much appreciate a positive rating on the answer I have provided as that is the only way I receive credit for my work.

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Thanks much

Barrister