Foreclosure Question.....
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  1. #1
    Registered User Daydream Believer's Avatar
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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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    Registered User frugalfranny's Avatar
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    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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    Registered User Monroe on a Budget's Avatar
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    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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    Registered User suebeehoney's Avatar
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    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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    Registered User Daydream Believer's Avatar
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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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    Registered User Daydream Believer's Avatar
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    Oops....double posted

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    Registered User mek42's Avatar
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    found this: Minnesota Foreclosure Law

    good luck!

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