behind on our contract

[fraza]

we live in oregon, we purchased our home on a owner carry contract agreement, we put $5000.00 down, we are to refin. this june. the payments are recorded and then forwarded to the original mortgage holder. due to and unforseen financial situation we are behind for october, and on the 30th we will be behind another payment. we can make these payments up on christmas of this year. our contract states that when we are 30 days past due we are to move out, and foreclosure proceedings will begin...neither of these has happened yet. we have small children and would like to keep our home, we have no financial means to move right now either. the previous owner has been calling, and the last message we received was...he was going to an attorney, and then the sherriff would come out that day and make us move. can this happen? what can we expect? are they required to do anything legally? is there a way we can negotiate and stay? do we have any rights? how long do we have ? thanks so much!!!

 

[HomeGuru]

You bought under an installment contract and the Seller needs to file foreclosure to get you out. Consult with an attorney.

 

[fraza]

You bought under an installment contract and the Seller needs to file foreclosure to get you out. Consult with an attorney.

Thank you! How long will be be able to stay if they file? anything we can do to get out of this happening?

 

[HomeGuru]

You need to talk to an attorney. The last foreclosure on an installment case I had in Oregon took 2-3 months.
To get out of the situation, the only thing you can do is pay the money to clear your account. But you can't do that.