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Foreclosure Steps And Timeline
louannedawe365 edited this page 1 month ago
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- Foreclosure Steps and Timeline
Foreclosure Steps and Timeline
This article explains the actions and timeline of a foreclosure case from starting to end.
1. Mortgage in default
Default = 1 day past mortgage due date - Lender sends Notice of Intent to Foreclose (typically sent out 45 days after default) and a loss mitigation application
2. Foreclosure filed in Court
- Lender's law practice submits Order to Docket. - Can file at any time after 45 days from when the Notice of Intent to Foreclose is sent out (or 90 days in default)
- Lender should wait 28 days after submitting the Order to Docket before submitting the last loss mitigation affidavit
- Lender needs to file the last loss mitigation affidavit at least thirty days before sale
3. Foreclosure mediation (optional step)
- Homeowner should file 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 final loss mitigation affidavit filed after the Order to Docket is filed
- In either case - 25 days from last loss mitigation affidavit
- 45 days after the property owner has actually been serviced with the Order to Docket if it has a final loss mitigation affidavit submitted with it