08/16/2025
Foreclosure Doesn’t Happen Overnight — But It Moves Faster Than You May Think!
Many homeowners only start to understand the foreclosure process when it's already too late. But if you know what to expect early on, you can take action before you lose control.
Here’s a simplified breakdown of what really happens:
🔹 Step 1: Missed Payments (30–90 Days)
You miss a few mortgage payments. Your lender will usually start contacting you — by phone, mail, or both.
👉 What you can do now: Call your lender or reach out to us. You may qualify for forbearance, repayment plans, or a loan modification.
🔹 Step 2: Notice of Default (30-60 days)
This officially starts the foreclosure process and typically lasts for 30 days.
👉 What you can do now: Explore with your bank and us loss mitigation options including loan modifications, forbearance, refinancing or you may consider selling your house while you have time.
🔹 Step 3: Notice of Intent to Foreclose (30 days)
If the default isn't cured the lender with issue a Notice of Intent to Foreclosure to the borrower and local county court 30 days before the foreclosure sale.
👉 What you can do now: You still have time to stop the process but you must act fast. We can help you accelerate loss mitigation options, consider legal protections or selling before auction.
🔹 Step 4: Foreclosure Auction
If no action is taken, the property is sold at auction — often below market value. Once this happens, you lose ownership of your property and your credit is impacted
👉 What you can do now: Avoid getting here. The earlier we talk before the auction, the better your outcome.
Foreclosure is a process — not a single moment. And that means you still have choices. The sooner you understand where you stand, the more empowered you’ll be.
We’ll walk you through your timeline, explain every option and guide you toward the best decision for your situation.
