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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 37373
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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My house is in foreclosure. I just received papers with a

Customer Question

My house is in foreclosure. I just received papers with a court date. What happens now? Am I held responsible for the debt, or do they just take the house. They're suing for $152,000. The house is probably worth $110,000. What happens now? I only make $13.39 per hour, working 40 hours per week.
JA: Since laws vary from place to place, what state is this in? And has any paperwork been filed?
Customer: Wisconsin. Yes, I received paperwork today with a court date of July 6.
JA: Has anything been filed or reported?
Customer: By me? I tried doing a deed in lieu up to 2 years ago, always got the run-around from them. Tried selling it once, but didn't get any lookers.
JA: Anything else you want the lawyer to know before I connect you?
Customer: No.
Submitted: 2 months ago.
Category: Legal
Expert:  Barrister replied 2 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.

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Once the house is sold at foreclosure sale, it is up to the lender as to whether they want to spend the time and money suing you for any deficiency or whether they just let it go.

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They legally can, but if they know you don't have any assets and would likely just file bankruptcy if hit with a big judgment, then they likely will just write it off.

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Once someone buys it at the foreclosure sale, they will have to ask the court for an eviction judgment and a writ, which will normally take 3-4 weeks after the deed is transferred to the bank or new owner. So you are likely looking at about a month before they could force you to vacate after the foreclosure sale.

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thanks.

Barrister

Customer: replied 2 months ago.
Thanks
Expert:  Barrister replied 2 months ago.

You are very welcome. Happy to help any time, especially in this tough situation.

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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 I have answered all your questions, I would very much appreciate a 5 star rating by clicking on the rating scale on your screen as that is the only way I receive credit for my work.

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Thanks much

Barrister