Divorce Support Forums: $ Gift From My Parents / Kicked him out of house

It also depends on the state as different states have different laws regarding foreclosure. For example, in Texas, a lender can foreclose and get their house back in as short as 21 days. Some other states, the foreclosure process can take upwards of 9-12 months to complete.

Gigi is correct in that a lot of lenders are being more proactive about helping troubled homeowners today than in the past, due almost entirely because they already have a large inventory of foreclosed (or soon-to-be foreclosed) homes. Having a large inventory of foreclosures gives a lender a black eye as far as being in good with the federal government. Banks don't like being in that position.

Being that you are upside-down is actually a good thing WRT short sale as most retail buyers won't touch a home that is listed higher than FMV (fair market value). Your best option would be to enlist the aid of a good Realtor(tm) who knows about short sales, who can assist you.

It's funny, but contrary to what Gigi said about keeping the house neat and clean can actually work AGAINST you. This is usually because a lender will have a BPO (broker price opinion) performed, which is basically an appraisal by a RE broker. The lower the appraisal, the better your chances are that someone will buy the house as the bank will usually list it for the BPO amount (initially). If the place is filthy, damaged, and just plain ugly, you can bet the BPO will be lower. DISCLAIMER: I am NOT suggesting you intentionally damage your home to get a lower BPO, I'm just pointing out what I've experienced as a RE investor.

As a very last resort, try to find a local RE investor who may be willing to buy your house from you (usually via a short sale). Just be careful because many of them are sharks and don't give a crap about you or your situation.

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