What is the usual time frame before the mortgage company begins to foreclose?

UPDATED: Dec 31, 2011

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What is the usual time frame before the mortgage company begins to foreclose?

My mortgage payment is late for almost 2 months just received a new bill with charges for attorney and other high costs foreclosure fee .Is that legal with only 2 months late?

Asked on December 31, 2011 under Real Estate Law, Texas


Michael Duffy / Duffy Law, LLC

Answered 11 years ago | Contributor

The procedures vary from state to state, but they are usually allowed to bill you for collection fees after you're late on a payment. Then there are usually notification requirements they must meet. After that, they usually may begin the "foreclosure" process, which involves contact the sheriff's department, holding a sheriff's sale or auction, and then beginning eviction proceedings. An average time from the first late payment to eviction is, very generally, nine months (this can vary depending on many factors and some individuals can stay in their home beyond one year, but this is uncommon). 

You should carefully consider your options. You might want to contact the mortgage company to consider a loan modification or short sale. If you have other debt or obligations that are affecting your ability to pay your mortgage, or would have a deficiency even after foreclosure that you'd be unable to pay, you should consider filing for bankruptcy. You might even be able to keep your home or other assets through bankruptcy, depending on a variety of factors. Contact a bankruptcy attorney to discuss your options, possibilities and see what route might be best for you.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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