If you are just in the beginning of the process- having missed a couple of payments... it should take a number of months before the judgement actually happens. And then, you should still receive prior notice before they would lock it up.
Have you considered doing a 'short-sale'? I could refer you to an agent in your area to discuss this with... would minimize damage to your credit.
I'm sorry to hear about your situation. It's a really tough time right now and a lot of people are in the same situation. If you say that the mortgage company has just now started foreclosure proceedings, then in all likleyhood you have a few months at least before you have to be out. The best thing to do is get in touch with your mortgage company and/or the trustee attorney. I know it's a really bad feeling living in a home that you are not paying for, especially when you don't know how long you will have to find a new place. But, make some calls and direct these questions to the people who are actually making the decisions. Some mortage companies are so backed up right now that the entire process of foreclosure actually takes months. I'm not incouraging you to be a "squatter" but if you can take another month or to to pack your things, save some money and find a suitable place to rent, then at least you have the peace of mind. Your mortage company will eventually serve a trustee's sale notice on your front door. There will be a date set to auction your home. Most of the time, you will have until a few weeks after this to actually vacate. BUT-every company is different. Make sure you contact your mortage company, explain the situation to them, let them know that you have a family and they should give you some kind of a timeframe. Don't be afraid of the "big, bad wolf". At this point you have nothing to lose by communicating with them. I hope this helps. Good luck to you and your family.... more