Know Where You Stand
Foreclosure Timeline — Phase by Month
The earlier you call us, the more options you have. See where you are in the process below.
Month 1
Month 2
Month 4
Month 6
Month 8
Month 10
Month 11
Month 13
Homeowner-Owned
Pre-Foreclosure
Bank-Owned (REO)
1
Mortgage Payment Missed
Your lender begins contact. You still have full ownership and many options available. Best time to call us.
2
Goes to Loss Mitigation
Lender's loss mitigation department reviews your loan. Loan modification and forbearance options are still on the table.
3
Foreclosure Filed — County Clerk
This becomes public record. The clock is now ticking. A short sale or cash sale can still stop this entirely.
4
Short Sale Negotiation Window
Your last best opportunity to negotiate a short sale with the bank. We handle this at no cost to you — and you may receive a $3,000 relocation bonus.
5
⚠️ AUCTION — Foreclosure by Bank
Property goes to public auction at the County Courthouse. We can still stop this if you contact us before the auction date.
6
REO — Bank Takes Ownership
If unsold at auction, the bank takes full ownership. You lose the property and all equity with no compensation.
7
MLS Sale by Bank
Bank lists the property on MLS. You receive nothing from the sale at this point.
8
🚨 Judgment Deficiency
The bank can sue you for the difference between what you owed and the sale price. This follows you for years and destroys your credit.
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