Thank you again, Patricia, for your additional information,
Actually, you have several months ahead of you because Citibank has not yet served you with the Complaint in Mortgage Foreclosure. Once they serve you with the Complaint in Mortgage Foreclosure, you as the Defendant, have 30 days to file and serve an Answer. After that at least another 2 or 3 (sometimes, more) months go by before the Court schedules a hearing date. After the hearing, another 2 or 3 or more months go by before the house is placed on the Sheriff's Sale list. So, you are looking at a minimum of about 6 months before anything will require you to move out.
When individuals want more time, they file a Petition in Bankruptcy because that causes an "Automatic Stay" of all Court proceedings. Individuals do not have to go through with the Bankruptcy, but it gives them another 4 months where the lender cannot do anything to the homeowner because everything comes to a standstill.
You also have an option to negotiate with CitiBank and ask them to take a "Deed in Lieu of Foreclosure". This is where the homeowner gives the lender a Deed to the property and because this saves the lender Court costs, Attorneys' Fees and other expenses, the homeowner can negotiate better terms with the lender. You might want to consider this and negotiate with Citi and ask them to allow you to remain in the house while you look for other suitable living arrangements. Of course, you would want Citi to put this in the form of a written Agreement so that you and your daughter are secure while you look for another place to live. Of course, it is not the ideal solution, but at least you can consider this as an option.
Have you considered a short sale ? This is where the mortgage balance is greater than the present fair market value of the property, but the homeowner negotiates with the lender to take the sale proceeds as payment in full of the mortgage loan balance, even though it does not cover the entire loan. But, this also gives you more time to look for another residence while the house is on the market for sale. It's just a thought and something for you to think about,
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