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Foreclosure Steps And Timeline
Graciela Reinhard edited this page 4 weeks ago
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- Foreclosure Steps and Timeline
Foreclosure Steps and Timeline
This article explains the steps and timeline of a foreclosure case from starting to end.
1. Mortgage in default
Default = 1 day past mortgage due date - Lender sends out Notice of Intent to Foreclose (usually sent out 45 days after default) and a loss mitigation application
2. Foreclosure filed in Court
- Lender's law office files Order to Docket. - Can file at any time after 45 days from when the Notice of Intent to Foreclose is sent (or 90 days in default)
- Lender must wait 28 days after submitting the Order to Docket before filing the last loss mitigation affidavit
- Lender should submit the last loss mitigation affidavit a minimum of one month before sale
3. Foreclosure mediation (optional action)
- Homeowner should submit mediation request and send a payment of $50, within 25 days of:
- The Order to Docket, if last loss mitigation affidavit served at same time - Receipt of last loss mitigation affidavit filed after the Order to Docket is filed
- In either case - 25 days from last affidavit
- 45 days after the house owner has been serviced with the Order to Docket if it has a last loss mitigation affidavit submitted with it