When Does Foreclosure Start?

We shall discuss the most common cause of foreclosure;

Non Payment

Foreclosure is the responce from the lender

for defaulting on a loan,

therefore,

technically one is in foreclosure

from the very first day a payment is missed and late.

However, since most lenders allow grace periods

and other catch up options,

the foreclosure process

is generally not considered as started

until the 91st consecutive day

without any payment being made.

When your loan payment is 16 days overdue or late your lender will be concerned and may attempt to contact you.

When your mortgage loan payment is 30 days overdue the collection calls will come on a regular basis.

Once you are 90 days overdue or late,

the lender will refer your mortgage to an attorney

who will start formal foreclosure proceedings.

For more specific information on the foreclosure timeline...

Go to Foreclosure Timeline 

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