we were in a depute with the lenders on our property and was trying to hold off the forecloser. the lender sold our loan many times some of the times we didn't even know about . anyway we have gotten a notice that the bank now owns our property and we have 90 days to move out. my question is what would happen if I don't move in the 90 days. I know alot of people who have moved out in the 90 day and 2 years later their place is still empty. we also have a high Mortgage so I don't see that too many people will be jumping to take it on.
If you don't move out in 90 days, the bank will have to evict you.
A notice to vacate is not a legal order.
It is simply the bank telling you they want you to leave.
They aren't being nice guys, they're obeying the law.
They have to give you 90 days to leave.
What happens if you choose to ignore the notice?
Then they will have to bring an eviction action before your local court.
How long will that take?
Generally, they will wait 30 days (or more) before filing an eviction action.
Once the action is filed, it could take six to eight weeks (sometimes more) before a judge orders you to leave.
So, the three month time limit could end up being six months (or more).
I've heard of people sitting in foreclosed homes (these days) for 18-24 months.
I read an article about a family that has been in their foreclosed home for 42 months!
Some people will approach the bank during the 90 day grace period and negotiate a lease.
Many of the larger banks like that arrangement, because it doesn't leave the property empty to be vandalized.
Good luck!