Question:

House Repossession, how many months do they give you to pay your mortgage?

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I've just found out my sister and her husband haven't payed there mortgage for 3 months now, does anybody know how many months till it will be repossed if they continue not to pay there mortgage?

Thanks in advance!

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5 ANSWERS


  1. They don't call it house repossession, but foreclosure.  Foreclosure starts when you go 3 months without paying.  Stopping payments on mortgage is a sure way to get into foreclosure.

    TALKING to lender, seeing what their options are is the IMMEDIATE course of action for them.


  2. Your sister should have been notified already.    By mail and by telephone.    The process most likely has already started.

  3. It varies from lender to lender and depends on individual circumstances. Usually takes over a year to go through the whole process.

    Your sister would be better to renegotiate the length of the loan.

  4. it varies from lender to lender and state to state laws. But if after 90 days down they will generally get a notice of default in the mail that is when foreclosure proceedings will start. it could take 30-90 days before that actually takes place and the sheriff puts them on the curb. They may want to work out a forbearance agreement with the lender to get caught up or file a chapter 13 to get caught up over the next 5 years or just go through the process

  5. Usually 90 days after they send you the foreclosure notice ( this is not the same as the letter they send you reminding you that the payment is late).  THis notice is recorded to you can look it up at the County Recorder's Office.

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