"It seemed that every home in our block was up for foreclosure and we didn't think we had any way out. We knew that we owed more on the house than it was worth and were very tempted to just let the foreclosure process play out. Then my husband found out about foreclosure help from 1st Foreclosure Prevention. We contacted them and found that we could get out of the house without having to endure the foreclosure process. This company presented us with options that we didn't even know existed. Not only that, but we're glad we didn't go through the foreclosure process because my husband lost his job, got a new one and the employer did a credit check! This company really helped us out."
"I'm really glad that 1st Foreclosure Prevention was able to help me with my mortgage problems. I was already in the foreclosure process when I called them for a free foreclosure evaluation. They were really nice and explained a lot of things to me that I didn't know, including how to stop foreclosure. I didn't even know that I could do that! They were able to work out a deal with my bank so that I was able to keep my home and pay less on the mortgage. Now I am able to afford my home and even save a little money, thanks to this company. I can't say enough good things about them."
"I couldn't sleep at night because I was so worried about my mortgage and what was going to happen to me and my kids. I had been working two jobs to try to keep up on the mortgage payments since my divorce and there just didn't seem to be an end in sight. Then I lost one of the jobs when the place closed down. A friend of mine told me I was better off to do what I could to stop foreclosure before it started, so I contacted this place that I found online, 1st Foreclosure Prevention, and they gave me so much foreclosure help! I couldn't believe that they could be so nice and caring. They took it all off my shoulders and I was finally able to sleep. They saved my home from foreclosure."
"The bank was actually selling our house right out from under us! I didn't think it was possible, but we live in a state where the bank can start selling your home if you do not pay your mortgage. So we got a notice that they were selling and didn't know what to do. We weren't even sure we wanted to live there anymore as it was worth a lot less than what we paid for it. But we had no idea about the impact foreclosure has until we learned about it from a friend. We did want to be able to get a fresh start and didn't want a foreclosure haunting us for years to come. So we contacted 1st Foreclosure Prevention and they were able to help us stop foreclosure. They stopped the sale and then helped us sell our house. They really ended up saving us."
"The foreclosure process is a nightmare and I never wanted to go through with it. But I really didn't think that there was anything else that I could do. I tried calling the bank, begging them to help me modify my loan and got nowhere. I finally contacted 1st Foreclosure Prevention and they were able to modify my loan within a matter of weeks! I guess that they are better at negotiating than I am. It was really easy on my part, too, as I didn't have to worry about anything except getting them the right paperwork. They were really nice, helpful and helped to stop foreclosure."
"After my husband died, I couldn't the mortgage payments at all on our home. I didn't know what to do and had tons of medical bills. I was at my wits end and was struggling just to get up in the morning because the foreclosure was making me so depressed. I had no idea what to do and was just going to let the bank take the house since I couldn't afford the payments. A friend told me about 1st Foreclosure Prevention. I contacted them and they gave me a free foreclosure evaluation and told me what I could do to keep my home. They negotiated with my lender for me and helped me stop foreclosure. Best of all, they relieved my mind from worry. They were very nice and really knew how to give me foreclosure help. Thank you."
Home / Foreclosure Timeline
Foreclosure Timeline
If you are worried about foreclosure and want to stop foreclosure from happening to you, you need to know a bit about the foreclosure process as well as the foreclosure timeline that will take place. Bear in mind that in some states, the lender can proceed against you with a foreclosure sale without going to court. This is known as a non-judicial foreclosure and is exercised by the Power of Sale clause that is part of the security instrument that you signed when you got your mortgage (usually a deed of trust).
The sooner that you act to stop foreclosure, the more options that you have open to you and the better control you will have over the situation. The minute that you feel that you are in danger of losing your home, you should act right away to stop foreclosure by seeking a free foreclosure evaluation from qualified loss mitigation firms. Loss mitigation specialists will be aware of the foreclosure laws in your state and how they can affect you.
Foreclosure Timeline
Your mortgage is often paid in arrears. That means that you are paying for the prior month’s mortgage payment. Most mortgages are due on the 1st of the month and offer a 15 day grace period. Many people wait until the last day to make their payment. If you miss the payment, your mortgage is past due.
Day 1 - This is the day that your mortgage is due. You have 15 days, in most cases, to make the mortgage payment without falling behind.
Day 16 - You missed the grace period allowed and your mortgage is now officially past due. You may get a call from the lender asking you to make a payment when this occurs. You will also incur a late penalty for paying past the due date.
Day 30 - This is the day that your mortgage is officially 30 days past due. A late fee has been applied to your account and your second mortgage payment is due. You are most likely receiving calls from the lender asking where the money is. In some cases, the lender may start proceeding with the foreclosure by issuing a Notice of Default once your mortgage is 30 days past due. The foreclosure laws vary from state to state, but most states will allow the Notice of Default to be issued when the mortgage is more than 30 days past due.
Day 60 - Your mortgage is two months past due. You have been most likely receiving daily calls from the lender. You may also have received a Notice of Default or, in the case of a judicial foreclosure, may have already received a summons from the sheriff indicating that the lender is proceeding with a foreclosure suit against you. You will have to appear in court and file the right papers to stop foreclosure from continuing.
If you live in a state that allows non-judicial foreclosures and you have a Power of Sale clause in your mortgage or deed of trust, then you may by now also have received a Notice of Sale. There are some states where the timeline for foreclosure ends in as little as 60 days. If you have not sought a free foreclosure consultation, you should immediately speak to loss mitigation specialists who will analyze your case, the laws in your state and advise you on what to do to stop foreclosure.
Day 90 - You are 3 months behind on your mortgage payments. If you have only a bit of equity in your home, you may find that the accruing interest and penalties are adding up fast. In some cases, you may find that you owe more on the home than the home is worth. If you live in a state that allows non-judicial foreclosures, chances are that you have already received a Notice of Sale. If your lender is proceeding through the court system, chances are that you have already received a summons.
In many states, 90 days is about all you have before the sale is set of your home. You will then wait for the foreclosure sale to commence and then eviction proceedings will commence. This can take another 30 days.
Day 120 - You are now 4 months behind on your mortgage. You most likely live in a state where the foreclosure process has to go through the court and are deep in the foreclosure process. Can you still stop foreclosure? Yes - but you have to act now. As long as no judgment has been entered, in most cases you can stop foreclosure. Some states, however, do not allow for the judicial process to be stopped once started.
Foreclosure Sale Day - This is the day that your home is sold to the highest bidder at a public auction. It can be sold at the courthouse or on the property. Once the property is sold, you may not have any recourse in action. There are some states, however, that have a right of redemption period. This is a certain length of time that you can save your home from foreclosure.
End of Redemption - If you live in a state where there is a right of redemption, the lender will commence with evicting you. The county sheriff will serve eviction papers and you generally have three days to get out of the house. If you do not leave, the sheriff can evict you by force in most states. This is the end of the timeline and the end of the foreclosure process. You have lost the right to live in your home and have to get out.
Obviously, you are better off to stop foreclosure at the first sign of trouble. While the foreclosure timeline is longer in some states, it can be shorter in others. You do not want to wait until the end of the timeline for an eviction. If you feel that you might be heading towards foreclosure, the best thing to do to stop foreclosure from happening to you is to act immediately and get a free foreclosure evaluation. Get foreclosure help before it is too late from qualified loss mitigation specialists.
To find out how we can help you stop foreclosure, get a free foreclosure evaluation by contacting us at 866-477-7050 or click here to get started now.
