Understanding the Foreclosure Timeline: What Every Homeowner Must Know
Learn the stages of foreclosure, important deadlines, and how to protect your home at each step of the process.
Haidee
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The foreclosure process can be confusing, but understanding the timeline helps homeowners stay ahead of potential risks.
Pre-Foreclosure Stage
This begins when you miss payments. Lenders typically send a Notice of Default after 90 days. Contact them immediately to discuss options.
Foreclosure Filing
If unresolved, the lender initiates legal proceedings. Deadlines vary by state, so review your local laws carefully.
Auction or Sale
Homes are auctioned or sold to recover the balance due. Acting early can help you avoid this outcome.
Redemption Period
Some states allow homeowners to reclaim their property after the sale by paying what’s owed.
Knowledge of these stages can give you valuable time to act.
