Legal Question in Real Estate Law in California
eviction
My house was just recently sold at auction back to the bank and i just got a 3 day or quit notice in the mail saturday and after those 3 days pass do they have to file a eviction notice and if so how much time do i have before they lock me out of my house? Also can the second still try and collect from me even tho the house was used as collateral?
1 Answer from Attorneys
Re: eviction
The lender will have to file an unlawful detainer action after the 3-day notice period ends. Once served with the Summons and Complaint, you have 5 days within which to answer. If you don't answer, the lender will obtain a default judgment against you for possession. The Sheriff will then serve the writ of possession on you, after which you will have 5 days to vacate the premises (excluding Saturdays, Sundays and Holidays). If a default judgment is entered you will have somewhere between 10 and 30 days from the time the default is requested before you will be locked out.
As for the second, after foreclosure, the second becomes a "sold-out junior lien holder." Because no collateral exists (because the holder of the first has already taken the house), the second can sue you for the balance due on the note.
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