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During a foreclosure when can you legally move out and not be responsible for the property?
December 23rd, 2011 | 
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Question by Tbert: During a foreclosure when can you legally move out and not be responsible for the property?
Do to my husband losing his job and me being laid off of my job our home is in foreclosure. We want to start looking for a place to live but don’t have the money to take care of 2 places. When are we able to leave and not be responsible for utilities and such at the foreclosed on home?
Best answer:
Answer by Jen
I would imagine that you should start looking for your new place right away, and contact the utility company to shut off the utilities at the old place as soon as you know you won’t be there any more.
Know better? Leave your own answer in the comments!
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Sorry to hear about your predicament.
First, you can live in your house for quite some time until the transfer of ownership through court auction/court action or sale.
Second, once the ownership is transferred, you need to cancel all of your monthly utilities, phone bills, etc.
My wife lost her job and my business slowed down horribly. My wife ended up becoming pregnant and so was unable to find work as a service technician. So I know exactly where you are coming from.
Losing a house can be a nightmare of an experience, but just because you are in foreclosure, doesn’t mean you have to lose you home. I got a book called “There’s No Place Like Your Home” at http://www.release-me.org (I think that’s the right address)and it talks about how to delay losing your house even if you are in foreclosure. The author is someone like you and me who went through the process and was able to not make a single house payment for over a year.
I put the book to work and was able to keep my house long enough that my wife was able to find a new job and we were able to get back on track with our payments.
If you leave your home, you are liable for everything on it, but personally, I don’t think you should walk away from your home. As you read in the book, you were set up for failure should anything happen in the tight string they setup for you.
Don’t let the banks force you to walk away from your home without a fight. There are things you can do about it.