Moving Past A Foreclosure As A Family

Moving Past A Foreclosure As A Family

Are you and your family facing foreclosure? It can be a devastating and trying time for everyone in the household. Foreclosure occurs when you miss the regular payments on your original mortgage agreement. Once you are past due for over 60 to 90 days, the loan can become accelerated and your entire balance becomes due. From there, the bank starts the foreclosure process. There are many things to consider when this occurs. Here are few things that may happen and how you can move past the foreclosure as a family.

Finding Another Place To Live

One of the initial things you may need to do is find another place to live when you move out of your home. The foreclosure process can happen rather quickly once you receive the legal paperwork. It’s better to look for a new home now rather than later. Making sure that you move into a new place that has a good school system in place for your kids is also important, so it’s important to look for a new place in your favorite school district if possible. Now is the time to be saving up enough money for a down payment for a rental. It’s important to choose a home that is affordable and won’t cause you to fall behind again, but finding affordable housing can be a challenge. You can start by contacting a local human service agency that specializes in helping families avoid foreclosure. They have access to resources that may help with down payment assistance or help you find affordable apartments and temporary housing. Now is the best time to line up a moving company, like North American Van Lines to help you pack up and move your household items to a new location.

What Goes And What Stays

One of the biggest questions you may be asking yourself, as you get ready to pack up your belongings is what to take and what to leave behind. Once the bank owns the house and is taking possession of it, you should leave the home with all structural items including:

  • Outbuildings and sheds
  • Pools
  • Built in outdoor items such as grills and decks
  • Essential appliances that originally came with the house

There are some exceptions such as new appliances that you’ve recently bought, including a washer and dryer or a home automation system. These are some things that you can pack up and take with you. You should always leave the HVAC system in place, including the entire furnace and central air conditioning unit. You can take personal effects and garden and landscaping objects that you bought after you purchased the house.

Dealing With Legal Paperwork

You likely have already received a notice of foreclosure in regards to your home loan default. For some people, the legal jargon can be hard to decipher. You may have questions about things such as the timing of when if you need to appear in court. This is a great time to seek out good legal counsel that can help. They will be able to examine your paperwork and help you fight back.

Losing your home is devastating for the entire family. Knowing what steps to take is the best way to make sure the moving transition goes smoothly for everyone.


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