Hello XXXXXXXXXX,
In Tennessee, court foreclosures are very rare. Out-of-court proceedings are customary and occur when a clause exists in a mortgage or deed of trust that authorizes the lender to sell the property if the borrower defaults. Once the borrower defaults on the payment, the trustee assigned in the deed of trust has the authority to begin the foreclosure process and advertise the property for sale.
The borrower may stop the foreclosure process prior to the sale by paying the total amount owed plus any applicable fees.
The typical foreclosure timeline is approximately two months.
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No. What I described above the procedure for the eviction. Whether or not your lender has to go to court or not. Usually in Tenn. they do not and will have a foreclosure auction within 2 months. That does not mean that someone will buy your house at the foreclosure auction. Realistically you are probably looking at 4-6 months before you would be forced out.
No during a bankruptcy the court would stay the foreclosure until all matters are resolved.
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