how many months must i be behind before they can forclose?

Asked by Dee Conley-Kljun, Powder Springs, GA Tue Feb 19, 2013

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, ,
Wed Feb 20, 2013
Technically the payment is due on the first day of the month, late on the second. But to answer your question, we do not know. We have no idea of your history with the lender; if you have been spotless they will usually try to help, if you have been a pain in the neck the hammer will fall a lot quicker.

The size of your lender and the number of properties they already own by virtue of foreclosure will also impact the decision making process. The circumstances behind your problem will also be a consideration. I had a client that lost a spouse that was the wage earner, the lender never did foreclose and they worked it out until the property could be sold.

Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
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, ,
Wed Feb 20, 2013
For any legal advice, you would need to consult with an attorney. As soon as you are more than 30 days late on a mortgage payment, the lender can initiate foreclosure proceedings. It must be advertised in the newspaper of record for the county for 4 consecutive weeks prior to sale on the courthouse steps the 1st Tuesday of each month.

Calling your lender is very critical in determining options.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
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Fred Yancy, Agent, Woodstock, GA
Wed Feb 20, 2013
My advise to you is to keep in constant contact with your lender. If your lender asks you for ANY paperwork, or ANY documentation, provide it in full immediately. Do not ignore their phone calls. They will be far more likely to work with you if they feel you are trying and are working with them.

If you short sale your property, instead of letting it foreclose, then you can purchase another home in as little as two years. If the home forecloses, you may have to wait up to seven years before purchasing another home. Work with a highly qualified Realtor with extensive experience in short sales. Choosing the wrong Realtor will often result with a foreclosure.

Fred Yancy, Broker
Crye-Leike Realtors
(678) 799-4663
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Tracy R Robi…, Agent, Trevose, PA
Wed Feb 20, 2013
Hello Girlski

There is a process regarding the foreclosure process Just like another monthly payment. You received late payment notices, final late payment reminder. Forclosure proceeding can begin as early as three months and take as long as eighteen months before foreclosure auction takes place.

You want to speak with your mortgage provider as soon as possible yo find out what your options are. Also, there are organizations you can reach out for guidance
If you find you can no longer afford yout home another option is to put your home up for sale as a short sale which might be an option if you do not wait too long into the forclosure process
A short sale is when more is owed on the property then it is worth.
Good luck.

Tracy Robinson-Realtor
62 S Main Street
Yardley, Pa. 19067
Office phone: 215-493-0200 ext 1067
Direct phone: 267-395-0251
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Tina Lam, Agent, San Jose, CA
Wed Feb 20, 2013
It can be after as little as one month, depending on how eager the lender is in taking back the property.
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