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How long does it take the bank to seize a home.

Posted by JKW75 JKW75
Message 1 of 2 260 Views

In the process of a divorce, ex wife is staying in the home. Title and mortgage in my name only. If I stop payment on loan how long will it take doer the bank to seize the house. 

Once in the process of seizure can the house be bought back off the bank?

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Re: How long does it take the bank to seize a home.

Posted by LyndsC LyndsC
Message 2 of 2 249 Views

Hi @JKW75, generally seizing a property is an absolute last resort, and the bank would work with you every step of the way to avoid this. Purposely stopping payments on the loan in order to allow this to happen may result in serious implications to your credit score and effect any future lending, so we certainly don't recommend trying this. It would be best to seek independent legal advice in regards to your options with your current situation.   

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