polksalet Posted February 26, 2011 Share Posted February 26, 2011 I posted awhile back about my buddy getting divorced. His house is now 5 months behind on mortgage and his wife refuses to make a payment or even call the mortgage company. How long does she have before the thing goes back? Quote Link to comment Share on other sites More sharing options...
matt770 Posted February 26, 2011 Share Posted February 26, 2011 Depends on how quickly the mortgage company decides to foreclose, and the state laws. Here in MD it takes 8-12 months typically. The lender can give notice after 2 missed payments, wait 45 days, file in court, then you wait for the court date. Once the foreclosure happens, there is an auction. It then takes 60 days to ratify the sale. The current homeowner could pay all past due monies and avoid the foreclosure right up until the 59th day. On the 60th day you're evicted. Or so I've heard. Quote Link to comment Share on other sites More sharing options...
frankf Posted February 26, 2011 Share Posted February 26, 2011 There are quite a few factors that go into it, some being: how long the homeowners have been a client of the bank, the size of the bank or and how much they are able to stay in contact with the lender once they know they will begin missing payments. At this point since your friend's wife has not contacted the bank, she should be getting very close to receiving a notification, I wouldn't expect it to go much past the 6 month mark. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted February 26, 2011 Share Posted February 26, 2011 Friends of ours went 18 months, in Sconny. Quote Link to comment Share on other sites More sharing options...
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