The lender is selling my home - Mortgage stress
They are going to sell my house. I don’t want to fight it. I just want it to be over.
Contact the lender to see if you can make an arrangement regarding the money owed under the judgment, details of the lender taking possession of the property or both. If you need more time to move out, ask the lender for more time.
What if the lender wants to fix things at the property before the sale?
The lender should not sacrifice your interest when they are selling the property. The lender can spend reasonable amounts to make the property saleable or to improve the return on the property, for example, by landscaping or tidying it up, or to maintain it for sale. The lender does not have to do this.
What if my house sells for less than I owe the lender?
If the amount the lender gets for the sale of your home is less than what you owe under the judgment, you will owe the shortfall to the lender. The lender can take other enforcement action against you to get what the shortfall. One enforcement option is bankruptcy.
Who is liable for rates, taxes and utilities on the property?
You will be liable until the property is sold. You should discuss with the lender whether to end your contracts with utilities (for example, gas, water, electricity) to avoid further costs if you are no longer living at the property.