Moved out, now what?

[endisnear]

We haven't gotten our auction notice yet, but found a small home to rent that we couldn't pass up. We were going to let the lender know that we're out of the old place. What will they do? Do they send someone to get the keys and check the place out? Do we mail the keys?

[endisnear]

Im sure there has to be someone that has moved out before theyve been evicted and can share their experience.....

[debtprison]

I would take pictures of the property prior to leaving. Turn off all electricity and shut off the water (unless it will get below freezing within 30 days where you are). Then I would send them a written notice that you left preferably certified return receipt requested. Then I would call them and offer to send them the keys or let their representative get them (or drop them off).

The reason for turning off the water and electricity as well as locking the place up and sending a written notice is to protect yourself from liability if say some bum gets in there and starts a campfire.

[ohio]

endisnear: I am wondering the same things. I plan on leaving my house in the next month and it will surely be before my foreclosure as I just had my 341 and am surrendering house. Chase asked for lift of stay before my 341. I was hoping that meant that this might be speedy, but I am sure it is just all formality.

debtprison: "The reason for turning off the water and electricity as well as locking the place up and sending a written notice is to protect yourself from liability if say some bum gets in there and starts a campfire."

I am not sure that locking the place up and sending a written notice protects anyone from liability if someone breaks in and either gets injured or trashes the place. I thought that was why we had to keep insurance on it until deed changes title. Also, if house is vacant does our insurance actually protect us in instances like that?

Read on here somewhere about vacant home insurance. Anyone know if that is legit and any companies to recommend???

I find it hard to believe that there are only a few of us surrendering our homes and need to vacate before it's time. Sure would be nice to read other people's experiences about this and what they did and what they wish they had done differently. Anyone???

[Rob517]

I am in the same boat, foreclosure proceedings have begun and I found a perfect little apartment to stay in and am going to jump on it. So I need a little idea as to what to do to make sure I'm covered if I head out.

Thanks

[limage]

I always wonder why people are so concerened about liability when they surrender and abandon their home. If you don't have insurance on your place, the bank will get their own insurance. The bank will have much deeper pockets than someone with no insurance that just filed bk. Having insurance will just set you up for getting sued if the scenario you are worried about occurs (unlikely). Surrendering your home in a Chapter 7 elminates the financial liability.

[MiSSMaGoo]

We haven't gotten our auction notice yet, but found a small home to rent that we couldn't pass up. We were going to let the lender know that we're out of the old place. What will they do? Do they send someone to get the keys and check the place out? Do we mail the keys?

Sorry for the late reply but I did the same thing and I can say 10 months into, I regret it. I would have had 10 (additional) months rent free. I definitely understand the reasoning behind wanting to move but my auction date was 08/05 and they still haven't taken possession of the house and I moved in January. I could have bought a more reliable car with the money I would have saved. I'm just giving you my opinion but like I said I understand when there's a good deal sometimes you just do it.

[ohio]

limage: My attorney told me to make sure I still have insurance on the house and keep the property up as we are still liable if anyone gets hurt on our property, AND the city could fine you for not keeping up your yard. People have actually been arrested or had warrants out for their arrest for fines that haven't been paid due to code violations for high grass etc.

I was also told even though the mortgage company may get their own insurance once we move out, that it's just bare minimum insurance for the home itself, NOT liability insurance. So, we are still responsible for anything that happens on the property or IN the house.

So, I have to say, moving 600+ miles away is pretty unnerving when you have no idea how long it will be before your home is actually out of your name and there is no one to keep an eye on the place. Everyone we know is at least 40 minutes away. (My neighborhood isn't one where the neighbors even talk to one another. You are lucky if you even see one except for trash day. Everyone keeps to themselves) Especially now when they say it can be YEARS before your home may go through the entire foreclosure process it is scary to not be able to keep an eye on things yourself.

Everyone makes it sound like you can file ch 7 and just walk away free and clear, but it's MUCH more complicated than that.........unfortunately.

[limage]

Ohio, I am sure the bank is insured or self insured against liability. You have empty pockets if you just filed BK. No one is going to sue you UNLESS you have insurance. And what are the chances anyway? You could also claim that you gave up the liability when you filed and surrendered (and you did). I'm not paying my HOA when I get ready to leave. I'd rather fight them in court. People who sue hire attorney's and the attorney's go after deep pockets.

[killinstinct]

I wouldn't worry about it. I walked out on my house in March and found a nice place to live. Place has been vacant and off/on the market ever since. Included in BK when I filed and we are off the hook. If the bank drags their feet taking possession, that's their problem. You have ZERO responsibility and liability.

[ohio]

I wouldn't worry if 2 lawyers from 2 different firms didn't tell me the same thing. Believe me, I'd like nothing more than to never worry about this again.

They say as long as the deed is still in your name, you are still responsible for anything that happens whether the bank has its own insurance on it or not.

I wish the law was clear on this. I do believe it depends on where you live though.
I am not assuming anything.