Foreclosure Question.....
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  1. 04-28-2010, 01:11 AM #1
    Daydream Believer
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    Default Foreclosure Question.....

    Does anybody know what the time frame is on a foreclosure --- like from the time the 1st payment is missed until a person has to actually be out of the house?
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  3. 04-28-2010, 02:17 AM #2
    frugalfranny
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    Default

    Don't know-- but wouldn't that vary according to which bank/financial entity is foreclosing. I would imagine some are faster than others. Even which state it is being done in as state laws can be different. Some states will have more 'hoops' (Laws) than others.
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  4. 04-28-2010, 07:47 AM #3
    Monroe on a Budget
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    Default

    Quote Originally Posted by Daydream Believer View Post
    Does anybody know what the time frame is on a foreclosure --- like from the time the 1st payment is missed until a person has to actually be out of the house?
    For those who live in Michigan, the details and options are explained pretty well at michigan.gov MSHDA - MSHDA's Save the Dream Program
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  6. 04-28-2010, 09:06 PM #4
    suebeehoney
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    Default

    It can vary based on a lot of things - how busy the mortgage company or servicer is with other foreclosures, how long it takes them to actually pursue foreclosure, etc.

    It can be as little as a few months to as long as a year.
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  7. 04-28-2010, 10:07 PM #5
    Daydream Believer
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    We are in Minnesota and our mortgage is through Chase.

    Will we having "warning" when we have to be out of the house?
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  8. 04-28-2010, 10:46 PM #6
    Daydream Believer
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    Oops....double posted
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  9. 04-28-2010, 11:04 PM #7
    mek42
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    found this: Minnesota Foreclosure Law

    good luck!
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