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07-23-2010, 01:19 AM #1
Renter
- Join Date
- Jul 2010
- Posts
- 3
How fast can GMAC kick us out of our house?
So I guess my parents owe some money to GMAC but our house is already on short sale. On short sale, the process can be fairly long so I was wondering how long the process would be if GMAC came in and took our house. Would it then technically be considered as foreclosure? And would they just send a notice pretty much saying 'You have 2 weeks to move out' or could it take just as long as the short sale?
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07-23-2010, 06:03 AM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,281
The banks foreclose on most of the short sales around here, even those with contracts on them.
The foreclosure process is different everywhere so the time frame will depend on the laws in your area.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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