Without seeing it, it is hard to say, but likely it means that the bank bought the property at the foreclosure sale (probably because there wasn't a bidder willing to pay the entire amount of the judgment for the property). If that's the case, then the letter is probably a notice before they seek a Writ of Possession (which does come from the Court). Take that seriously because once the Writ is issued, the sheriff will post it and you'll have 24hours before you'll be forced out of the property. If you need more than 7 days to move out, you may be able to negotiate a few more days with the bank - but, unfortunately, there's no guarantees.
Answered on Jan 30th, 2015 at 10:06 AM