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Juswondering, Other/Just Looking in Detroit, MI

How many payments do you have to miss before your home is up for sheriff sale?

Asked by Juswondering, Detroit, MI Tue Mar 2, 2010

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Most states use the 90 day time frame. Foreclosure can be filed by the lender anytime after that, though many don't, opting to re-negotiate the debt or "short-sale" the property.
0 votes Thank Flag Link Tue Mar 2, 2010
That varies from lender to lender and state to state. Generally, foreclosure proceedings are initiated after your payments are 90 days late - but that's the beginning, not the end. Beyond that basic rule of thumb, it all depends. The foreclosure process is typically not as fast as people fear.
0 votes Thank Flag Link Tue Mar 2, 2010
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