How far behind before foreclosure starts

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Icon Mini Profile cgreenlady





Joined: 05 Dec 2008

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Post Posted: Fri Dec 05, 2008 1:45 pm    Post subject: How far behind before foreclosure starts
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We are almost 2 months behind on our mortgage and have been threatened with foreclosure
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 12593
Location: Alaska
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Post Posted: Fri Dec 05, 2008 8:43 pm    Post subject:
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Hi cgreenlady!

Welcome to forums!

It will depend upon the specifics of the loan docs as to when the foreclosure proceedings will start. As far as I know, if a borrower is 90 days late in paying the dues, then the lender can issue a pre-foreclosure notice against the borrower.

There are various ways to avoid foreclosure such as loan modification and forbearance. You can check out some of them in the given link:
http://www.mortgagefit.com/foreclosure/17ways-avoid.html

Feel free to ask if you have further queries.

Sussane
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