are no existing liens on the property. If there are existing liens, the money will go straight to paying the balance due for those amounts.
THE EVICTION PROCESS
Even a few days’ grace may be helpful to homeowner faced with losing their home. Fortunately, the eviction process isn’t immediate. Lenders aren’t allowed to change the locks until the auction has been finalized, and even for some time thereafter. Foreclosed-on borrowers can’t be evicted until the lender completes the foreclosure sale. For example, California’s Department of Real Estate’s Homeowner’s Guide to Foreclosure in California states that homeowners should only plan to move out of their home after the eviction process and foreclosure sale are complete. The new owner may take possession once a property forecloses. There are laws regulating the timeline of a foreclosure eviction, which vary depending on the state. These laws also depend on whether a tenant or the former homeowner resides in the home. For example, in Washington, the former homeowner has 20 days to leave a property after a foreclosure, while in California, state law allows the new owner to issue a three-day notice to quit the property. Whether the foreclosure was a judicial or nonjudicial process makes a difference in a foreclosure eviction. Judicial foreclosures have the eviction included in the lawsuit; however, the former owner can’t be evicted during the redemption period (which may be up to a year). A separate action is required to evict the previous owner in the instance of non-judicial foreclosures. In California, the owner needs to file an unlawful detailer if the three-day notice expires and the occupants fail to leave.
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