The number of payments you can miss before foreclosure proceedings varies. It often depends on your state's foreclosure laws and your lender's policies.
Your lender can potentially begin foreclosure proceedings as soon as you miss a payment. Realistically, however, it usually takes missing several payments before foreclosure proceedings begin.
The number of payments that can be missed before foreclosure begins is difficult to estimate, since foreclosure proceedings vary from state to state. As a general rule, foreclosure proceedings can move along more swiftly in states that do not require judicial involvement for a foreclosure to start. These are known as non-judicial foreclosures, which can be started solely by the lender.
While preventing a foreclosure is not always possible, it is possible to work with your lender to make arrangements that allow you to modify payments in order to stay in the home, or to come up with a plan that gets you out of the home without foreclosure. Discuss your options with your lender at the first sign of difficulty paying the mortgage.
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