“Notice of Substitute Trustee Sale”

Just got a letter in the mail from some attorneys regarding our lender.

It’s basically a “Notice of Substitute Trustee Sale”

And it has a sale date 5-17-09.

My question is, is the sale date the date we have to be out of the house or is it earlier.

Is this the letter that is basically the to tell us we need to be out of the house?

I am not sure when our date of “EXIT” is before or even earlier then the date of 5-17-09



Also, since I have a second mortgage, should I just fax this letter to them “Notice of Substitute Trustee Sale”, that way they are aware we’re no longer keeping the house?

Thanks all,

The notice is just providing you with the first date the they will attempt to auction off the property. It could be delayed, and/or they may not get a buyer.

It's not telling you that you need to be out of the house. You could, technically, wait for it to be sold, and for the new owner (buyer) to evict you. Even before eviction, they need to demand that you vacate / abandon the home.

I would still make plans to have a new place by 6/1/2009 in case it does sell. Also, in your State, the redemption period may be months long, so you may get to stay even longer.

You don't need to notify the 2nd mortgage holder, as they are automatically included as a defendant on the foreclosure!