WHEN CAN A PRIVATE LENDER START FORCLOSING

kwyatt41 · Joined: 17 Sep 2008 Posts: 1 1.24 Dollars($)

i have a loan through a private lender in texas and i was due on september 1st.

jameshogg · Posted: Wed Sep 17, 2008 11:34 pm Post subject:

Hi kwyatt,

Welcome to forums.

Usually lenders send a notice of default to the borrower within 90 days of 1 missed payment. This notice is an implication that the lender has declared a foreclosure. Within the next 90 days, the borrower has to compensate for the dues or else the lender will send a Notice of Sale. After 15-30 days of sending the Notice of Sale, the lender may set up the auction. By the way, did the lender speak to you about the missed payment?

Thanks

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