How Can You Delay The Foreclosure Process And Stay In Your Home, Payment-Free, For Over 2 Years?
The foreclosure process, basically speaking, is the steps through which your bank or lender repose your property. It has so many variables that is impossible to exactly mention the specific steps that a given foreclosure will go trough as well as the timeline that every foreclosure will take from beginning to end. The foreclosure process starts after you have been behind in your mortgage for two or three months. The banks usually try to contact you regarding your late payments, but most of the homeowners never answer those calls. Your lender will file a Foreclosure Judgment at the local court, and you will receive a summon or notice informing you that your bank has initiated a foreclosure process against you. At this point of the foreclosure process you have the opportunity to request a hearing in the circuit court. In this petition you will ask the judge for an opportunity to hear your part of the story, but unless you have a very unusual situation, you normally will lose this hearing
