How Long Will a Foreclosure on My Home Take?

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Last updated: November 2009

A mortgage is a written agreement between a mortgage company and a home buyer. The mortgage makes your house collateral for your home loan. Collateral is security for a loan, so if you do not pay the mortgage company, they can try to take your house. This process is called a mortgage foreclosure.

In an "unopposed" mortgage foreclosure the borrower decides that there is no reason to try to stop the foreclosure. So, the borrower agrees to go forward as quickly as possible and not fight the foreclosure. If you are going to try to stop the foreclosure your process and timeline will be different.

This will give you an idea of how long the foreclosure will take and when you’ll have to actually move out. This timeline is only a general guideline for an unopposed housing foreclosure case. The time frame for your case may be different.

Third Missed Payment

Usually after the third missed mortgage payment, the loan is sent to the lender's attorney for foreclosure. A foreclosure action is a lawsuit filed to end your mortgage and take away your house. After the lender's attorney gets the information about your loan, he or she orders a title report. A title report is a document that states who owns, or has "title," to the property. This report also shows if you have any unpaid deeds of trust or mortgages on the property. Finally, the title report shows if you have any other limits on how your property can be used such as liens (the right to force the sale of your property to pay a debt) or covenants (an agreement about the use of your property).

30 Days Later

The lender's attorney reviews the title report and writes the Foreclosure Complaint (a court document that says you have not paid your mortgage for a certain amount of time and the property is now being offered for foreclosure). The attorney also writes up other papers such as a Summons (a court order that you appear in court at a certain day and time). The lender’s attorney reviews the title report to find if you have any other mortgages on your property or if a mechanic's lien has been filed. A mechanic's lien is a claim against your property usually filed by a workman because you did not pay him for work done on your home.

7 Days Later

The Foreclosure Complaint is filed in court and the summons is ready for service. Service is when legal papers are given to the opposite party. A Lis Pendens is recorded with the Recorder of Deeds. A Lis Pendens is a document that is filed with the recorder of deeds which stops you from selling your home until the foreclosure case is over.

Within 60 Days

The Foreclosure Complaint is served, or given, to all parties by the Sheriff or a special process server. If a party cannot be reached in person, they can be served by putting a notice in the newspaper. 

14 Days Later

The lender's attorney reviews the court file to make sure that all parties have been served. Then the attorney sends a notice of motion (asking for a Foreclosure Judgment to be entered). The notice of motion will tell you when the court date is. You should go to court on that date. 

You have 90 days after receiving the notice of motion to reinstate your mortgage. You reinstate your mortgage by paying all the money you owe on the mortgage and all costs and fees. If you do this, you cannot reinstate your mortgage again for 5 years.

At the court date, any of these things can happen:

• You can ask for a "continuance" to hire a lawyer. A "continuance" means that you're asking the court not to make a decision today, and to set a new court date to give you more time;
• You can ask for more time to file an "appearance" and "answer". An appearance and answer are the forms you will need to file if you're going to represent yourself instead of getting a lawyer, and you think you have a defense to the foreclosure case;
• The court could set your case for trial if you have some defense available to you;
• If you have no defense to the foreclosure then the court may enter a judgment against you. But it is not likely that this will happen at the first court date.

21 to 60 Days Later

If you lose at trial or you do not reach an agreement with the mortgage company then a Judgment of Foreclosure and Sale (saying that you no longer own the property or have any interest in the property) will be entered against you in court.

Once a Judgment of Foreclosure is entered your redemption period (when you can try to keep your house by paying off the overdue money within a certain amount of time) begins. Your redemption period ends:

• 7 months after the date of service of the foreclosure complaint if you are living in the home
• 6 months after the date of service if you are not living in the home, or
• 3 months after the judgment is entered, whichever is later.

In order to redeem your mortgage, you must pay the amount of the judgment of foreclosure, which includes all money owed under the mortgage, all court costs, attorney fees and taxes.

Within 7 Days after the Redemption Period Ends

The foreclosure sale (of your property) takes place. The mortgage company must do certain things before the foreclosure sale can take place. 

A notice of sale must be published at least 3 weeks in a row, once per week. The notice must be published in a newspaper "of general circulation," in the real estate section. It will usually be posted in a local paper. The notice may be published during the redemption period. The mortgage company does not have to mail you a notice of the sale.

21 to 30 Days Later

The mortgage company will bring a motion in court to ask for confirmation of the foreclosure sale. A court will usually confirm a foreclosure sale unless you can prove one of the following:

• Notice was not given in the right way
• The terms of sale were unreasonable
• The sale was conducted fraudulently (in a dishonest way)
• Justice was not done

You can go the sale if you want to.

If the sale price is less than the amount of money that you needed to redeem the property and the mortgage company purchased your property, you have a special right to redeem. This special right to redeem ends 30 days after the sale is confirmed. In order to redeem, you must pay the sale price, any additional costs and expenses approved by the court and any interest. 

When the court confirms the sale they will give possession of the property to the buyer. This could be the mortgage company or a third-party buyer. The court will usually give you 30 days from the date the order is entered to leave the property.

30 Days Later

You no longer have the right to stay in your house and the mortgage company can ask the court to have the sheriff remove you from the property if you do not do so by yourself.

After You Have Left the Property

The foreclosure deed, which is a written document that says your property has been foreclosed, is recorded so that it is public record.

 

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