Timeline For Foreclosure

The timeline for foreclosure in a judicial state is different than the time line in a non judicial state. Figure out if you live in a judicial or non judicial state because the time line and process is different on a foreclosure. Let’s take a look at the foreclosure time line.People start missing payment on their home so between 30 to 90 days they have missed payments and defaulted on the loan.After missing payments the next 30 days legal proceedings begin and a complaint is filed.The person has 28 days to answer the complaint.Within 5 to 30 days a motion for default and a summons takes place.Within 3 days – to sheriff – judgment.Then during the next 3 months an appraisal is ordered along with 5 weeks of advertisement in paper.

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