When can a mortgage holder or servicer begin proceedings to foreclose by advertisement?
Generally, before beginning proceedings to foreclosure by advertisement, a mortgage holder or servicer must comply with a 90-day pre-foreclosure process to attempt to avoid foreclosure. The mortgage holder or servicer first must serve a written notice on the borrower informing the borrower of his or her rights and the opportunity to avoid foreclosure.
Related Questions
- Can commercial mortgage holders force mortgagees to pay interim mortgage payments during the pendency of proceedings or else vacate the premises?
- Can the mortgage holder or servicer foreclose by advertisement even when the borrower is eligible for a loan modification?
- Can I get a mortgage modification once a lender starts foreclosure proceedings?
