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Understand Your Situation
We’ll explain where you are in the process —
whether you’re behind on payments or
already in foreclosure.
Explore Your Options
From loan modifications and short sales to
forbearance plans — we help you find what's best
for you and your family. We will find a solution.
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The Foreclosure Process:
Understanding the foreclosure timeline can empower you to take control, make informed decisions, and possibly stop the process altogether. Here’s how it works:
1. Missed Mortgage Payments (Preforeclosure Begins)
The process usually starts when a homeowner misses one or more mortgage payments. Lenders may charge late fees, and you’ll begin receiving notices.
2. Notice of Default (NOD) or Demand Letter
After 90+ days of missed payments (varies by state), the lender will issue a Notice of Default (NOD) or similar document. This officially begins preforeclosure and informs you that foreclosure proceedings may begin.
3. Preforeclosure Period
This is the critical window to act — before your home is scheduled for auction or repossession.
During this time, you may receive calls from the lender, mail notices, or even get offers from investors.
4. Notice of Sale (Foreclosure Scheduled)
If no resolution is reached, the lender will schedule the home for public auction and issue a Notice of Sale (timeline varies by state). This is usually published publicly and sent to you directly.
5. Foreclosure Sale / Auction
The home is sold at a public auction to the highest bidder, or it may revert back to the lender as a bank-owned property (REO).
6. Eviction
If the home is sold and you don’t move out voluntarily, the new owner (or lender) may initiate a legal eviction process.