How long will it take for the bank to evict us?

Eviction processes vary by state and lender. Each bank has its own policy on when to start proceeding. The time period will also depend on if a judicial process or power of sale is used. In Utah, a power of sale can be used to evict for foreclosure and can be accomplished in about five months.

In my jurisdiction (Colorado) the foreclosure process takes about 11 months. Once the foreclosure sale takes place you are a trespasser and subject to eviction. You can probably live rent free for about a year.

As long as you still own the house, the bank has to foreclose on you & take away your title before they have the right to evict you. Depending on when the bank gets around to doing this may take a long long time & is impossible to predict. However, the foreclosure process takes at least 115 days to complete under Nevada law. You may want to see if a short sale could be in your best interests, as many banks are offering significant cash incentives for those that want to walk away from their homes. Another choice to possibly make your home more affordable would be to try a mortgage modification. I am seeing interest rates go to 2 - 3% for a 5 year term.

It is not an eviction, but a foreclosure. The clerk cannot enter a writ of possession until 11 days after the sale on the courthouse steps. Since a foreclosure has not been filed yet, it is impossible to tell you how much time you might have left in the house. Probably a number of months.

It depends. The bank is not required to evict you. They can choose not to. Or, they can try and work with you to get you to sign a new agreement. If the bank chooses to evict you, then they must give you a notice (usually taped to the door) announcing the date and time of the "sherrif sale". If the bank (on the date of the sale) thinks that there are not enough bidders, they can adjourn the sale for as long as they want. For six months (usually) you will have a "right of redemption".. that is, the right to refinance or sell your house, after the date of the sherrif sale. If you do not refinance or sell by the end of the six month period, the bank can begin "eviction" procedures. You will get a "notice to quit". You will usually have about three weeks total to move out (from the date you receive the notice to quit). Then, the sherrif will "help" you out of the house by removing your belongings and changing the locks.

The bank will eventually set a date for a Sheriff's sale (or foreclosure date). You will receive 6 months from that date before you have to leave the premises. You indicated that you did not reaffirm the debt on the home so you will not have any personal liability on the home when it goes back.

If you play your cards correctly you have along time to enjoy living in the house for free. First of all, the bank won't start any foreclosure until you are about 3 months behind. First they will send you a letter advising that you must pay all back payments (usually within 15 days) or they will accelerate the entire loan balance due. After the 15 days, you will get a letter from their attorneys advising that they represent the mortgage holder and notify you that you have the right to request a modification, If you request it, that will take another 90 days even if you do nothing. When the law firm does start to foreclose they will publish in a local newspaper for 4 weeks that a foreclosure sale will take place (usually the week after the 4th publication). Keep track of the foreclosure sale date as you have 6 months after the sale date to redeem by paying the register of deeds whatever amount was bid at the foreclosure sale plus interest. If you have more than 4 acres you will have 12 months. If you have not moved by the time the redemption period expires, the law firm will have to take you to a local District Court to evict you as though you were a tenant. So to answer your question, figure about one year.