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Can a bank vacate us?
We didn't pay mortgage for years. We are facing a terrible financial difficulty. I have my 2 kids in the house and hosting a poor family of 5 children in my 1/2 basement for free.
What are the chances of the bank to enforce vacating.
Thanks
6 Answers
- ?Lv 78 years agoFavorite Answer
They don't care about your situation, they will follow the standard eviction process. It may take awhile (maybe years) for them to get around to it, but eventually they'll evict you.
- loanmasteroneLv 78 years ago
If you have failed to pay the monthly mortgage for the past several years, eventually your mortgage lender would foreclose on your house.
Once the foreclosure procedure is complete you would be required to move.Failure on your part to move once you are notified, would be cause for your mortgage lender to give you the proper notice. Failure on your part to move after receiving the notice to move would be reason for your mortgage lender to go to court and have a judge sign an eviction notice thus giving you a limited number of days to move.
Failure on your part o move a local law enforcement agency would come to the house and have you take all your stuff, family members and anyone else in the property move out while they are there.
You financial difficulties are not the problem of your mortgage lender,nor the fact that you are housing other people in a basement.
The chances are great that you would eventually be legally evicted from your current house.
In the years you have been living there not paying your monthly mortgage payment,surely you should have been able to find some sort of employment for the sake of your children having a place to live and not eventually placed on the streets with no place to go. This is your fault not that of you mortgage lender.
children that do not have a safe place to reside is reason for the local child protective services to remove them from you for not being able to take care of your children as well as being charged with child endangerment.
It might benefit you if you would immediately find a secure place for you and your children.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
- acermillLv 78 years ago
Chances are very high that the lender involved will foreclose to take possession of the property, and soon. When it does so, you will be required to leave the property and find other housing. It is irrelevant whether you are poor and housing a family for free.
- falsi fiableLv 78 years ago
Vacate? The correct term is eviction.
If you haven't paid the mortgage for years, the lender has decided you no longer own the house and they are seeking a paying customer.
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- SlickterpLv 78 years ago
Yes, of course they can. You don't get to steal their money AND keep the house. The chances are 100% that you will have to vacate.