foreclosure in 1 month, when to cut electricity?

Question

Hi guys,

We're losing our house to foreclosure in about 4 weeks. We have already vacated the property and moved to a rental home.

I've been paying the electric bill at the empty house (that's going into foreclosure) for almost 2 years while the place has been on the market for sale. The house is in a cold climate and we have been protecting the pipes from freezing.

Now that foreclosure is unavoidable I want to stop paying these $200 a month electric bills. Can I shut the power off now? Or can I have it shut off the day the house goes into foreclosure?

Thanks very much.

N/A N/A · Answer

Thanks Pam and everyone! The advice and encouragement are really helpful.

I totally agree about slowing building up again. Having a trailer on a plot of land actually sounds like heaven to me now!

I used to think that people who lost their homes to foreclosure were "losers" who brought their troubles upon themselves through mismanaging their lives. (I can't believe I used to be so mean.) Boy do I have a different perspective now!

We are losing everything due to a business deal gone bad, and this situation is really something beyond our control.

So for those of you who are purchasing foreclosed homes, please remember the the people who lost their home are most likely very nice, "normal" and hardworking people who have run into hard times!

:D

Ryan Webber · Answer

I think when they winterize they empty the water heater and put some type of antifreeze in it.

N/A N/A · Answer

I'm sorry about the foreclosure. Just remember there is always hope that you will be able to buy again. Even if all you can afford next time is a trailer on a little piece of land, the key is not to get in over your head. Also, consider buying a duplex or triplex-that way others are paying the brunt of your mortgage. Give it a year or two, pay your bills on time and a lender will give you another chance. Soon you will be changing your name to sohappy!

N/A N/A · Answer

Thanks very much!

Ryan Webber · Answer

I would shut the electricity off now and shut off the water now also.  Now I would make sure that all the valves are open on all the faucets after I shut the water off, so if the water in the lines does freeze it won't burst the pipes.

By opening the faucet valves, you are giving the water in the lines room to expand when it freezes, so it won't bust the pipes.