The notice of default or the first legal action as it is called in some states is the first step in the foreclosure process. The timing of recording the Notice of default is different for different states. However, the time period prior to the filing of the notice of default is usually similar. The banks usually do not send the cases to the foreclosure attorney until the 120-135 th day of deliquency. So when ever the notice is filed it would suggest that the mortgagor is 4-5 months behind in their mortgage. So the time to foreclose will be determined on the state standards.
So if the Notice of Default is filed the foreclosure process has started.
First Weber Group
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