How do I know if I am being foreclosed on?

Generally, after the first missed payment, your mortgage company will send a Missed Payment Notice. After two missed payments, they will send a Demand letter as an attempt to collect the missed payments. After 90 days of missed payments, lenders will usually send a Notice of Default stating that the loan will be turned over to the lender’s foreclosure department. Roughly 90 days after the Notice of Default, you will receive a Notice of Sheriff’s Sale. This means that your home is scheduled to go up for auction at a public Sheriff’s sale usually within a month. At the Sheriff’s sale, the home will be sold to the highest bidder who will immediately take possession of the property. At this point, you will receive an eviction notice and be asked to vacate the premises.

Marks Law Firm will do everything in our power to ensure that you are able to keep your home or remain in it as long as possible. However, the sooner you involve us, the better. Generally, we would recommend coming to us as soon as you receive a Demand letter.