Title: What Happens If You Receive a Foreclosure Notice? | Home Guides | SF Gate
Headings: What Happens If You Receive a Foreclosure Notice?
What Happens If You Receive a Foreclosure Notice?
A Last Chance
The Lawsuit
Get the Best Mortgage Rate for You
Another Letter
The Sale
Eviction
Nonjudicial Foreclosure

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Source: Mortech® & Brown Bag Media, LLC
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Another Letter
If the judge rules in favor of your lender, the next step will be a letter notifying you of the date of sale. In many states, you can still stop the sale if you can amass enough money to pay off the mortgage in full, plus foreclosure expenses and other costs. The Sale
If you don't pay off your debts, the lender will put the home up for auction to the highest bidder. If it doesn't sell, then your lender becomes the new owner, Nolo states. Up until that moment, you're still the legal owner. It will usually take at least 3 months after notification before the house is sold, more if you fought the foreclosure action. Eviction
If the property is your personal home, you can continue living there until you receive an eviction notice, even after the sale. If the new owner doesn't ask for rent, you don't even have to pay to stay there.