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Foreclosure Timeline-Chase and other major banks-how long does it take to foreclose?

Updated on October 17, 2012

How long until I am foreclosed on? What is the foreclosure timeline?

Foreclosure timeline is based on two different types of documents and processes. One is called the "deed of trust" the other is called a "mortgage". It is confusing because most people refer to their home loan as a "mortgage". You will hear the term "mortgage payment".This refers to your loan payment.

Know if you actually have a "mortgage" or a "deed of trust". The easiest way to do this is to look at your original loan documents to see if you have something in there with either of these terms. As a side note- you will have a "grant deed"- this is not a deed of trust. A grant deed is the document that transfers title to you and is recorded with the county (usually).**

Foreclosure Timeline for a Deed of Trust

The exact timeline for foreclosure depends on the lender. It also will depend on the state the home is located in. The following information should be considered as the general timeline that all foreclosures will follow. Regulations can vary by state.

Also- due to the nature of the current housing market not all Lenders will follow the foreclosure timeline to the letter. Some lenders are more aggressive than others when initiating a foreclosure, and some are less. Much of it depends on many factors including-- how impacted your local area is, and how many foreclosures your Lender has on the books. There isn't a one-size-fits-all timeline.

Trustee Sale- if you have a Deed of Trust--

  • Day 1 It's the first of the month and your payment is due. You miss your payment.
    Notice of Default is filed with the county recorder. A notice of default is also known as an NOD.
  • Day 16-30 you have a late charge added to how much you owe. This is when the company that services your loan will try to contact you for payment. This will be the collections department.
  • Day 45-60 Your "Servicer" will send out a "demand" or a "breach" of contract letter to you. At this point you may be given 30 days to pay what you owe, including the late charge.
  • Day 90 NOD or "Notice of Default" is recorded in the county where the property is. It is also published in a local paper under "notices". This becomes public information and you may start getting contacted by all kinds of real estate agents, people who want to "buy" your house, people who can "help" for a fee. IGNORE them. Most of these "do gooders" are predators trying to capitalize on your situation. Many have gone to foreclosure seminars to learn how to take advantage of you. If the time comes for you to sell your house, YOU seek out an agent who is knowledgeable in the process (not your aunt Millie who just got her real estate license).
  • You are now in the reinstatement period
  • Day 180 NOS or "notice of Trustee sale". If you have not been able to make your payments and get caught up, The Lender will instruct the "Servicer" to record the NOS.
  • Day 196 5 business days before the sale date- right to reinstate expires.
  • Day 201 After 21 days have passed from the recording of the NOS a foreclosure sale can take place in a public auction on the county courthouse steps. Two things may happen at this point. Either a third party bidder will buy your property, or the Lender will take it back and hold it for sale- this is referred to an REO or Bank Owned Property.

How long in the foreclosure timeline until my house is sold at auction?

"What Ifs"

Remember- this is the way that the Lender can foreclose on your house. With the current status of things- this could change, as new laws are put into place perhaps to slow things down (this keeps the market from being flooded with foreclosed properties) When the market is saturated with homes for sale--further devaluing takes place in surrounding homes in the area. The main thing to know is "the what if" possibilities.Here are a few:

  • What if my Lender is really aggressive- how long until I am out on the street?
  • What if I call my Lender and try to work something out as soon as I am in trouble?
  • What if I don't care and just want to walk away?

What are some other what ifs you can share with us?

Did you find this article helpful?  If so please give it a thumbs below- with our thanks!

Do you have other questions?  Ask them here.  Either about the Foreclosure Timeline or any other Foreclosure problems OK?  Remember-Tomorrow is a new day full of new possibilities!

**All information here is considered general guidelines only. It is not tax or legal advice. You need to see the proper authority for advice.

Foreclosure Help and Foreclosure Timeline will be updtaed as new information becomes available.


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    • bayareagreatthing profile imageAUTHOR


      7 years ago from Bay Area California

      I would contact the lender to see if you can work something out. I would also contact an attorney to see how and if you can protect your interest (if by law you have any) prior to a foreclosure action.

    • profile image


      7 years ago

      What if one person borrowed money on a house that was once owned free and clear by that person and one other. Now the lender is going after the home. But what happens to the person on the grant deed that did not do the borrowing? Technically they too own the house and but do not owe the money.??

    • bayareagreatthing profile imageAUTHOR


      7 years ago from Bay Area California

      I have no way of knowing the answer to that. The timeline here is according to the how long foreclosures in non-judicial states can take. Many foreclosures are taking longer and others are right on schedule. You may want to ask advice from a reputable attorney. They will usually give a 30 minute free consultation.

    • profile image


      7 years ago

      how long do i have as a chase bank customer before i loose my home, i am about to be late for the first time this month? will the current market situation delay the process giving me more time to figure out what i am going to do?

    • bayareagreatthing profile imageAUTHOR


      8 years ago from Bay Area California

      Lori- First I am so very sorry to hear about her loss. I cannot imagine what she is going through right now and how deep her pain must be.

      As to her house situation- I would suggest she get in touch with HOPE here is their website-

      There should be housing counselors in her city that will walk her through the process of a loan modification. The sooner she begins the process the better.

      It can take a long time and the foreclosure process in CA is according to the time frame above. The Lenders have done a horrible job at getting people into the HAMP program and giving permanent solutions, however. So the fight could be long and ugly. Chase is one of the worst offenders IMHO.

      There is much talk in the real estate media at this time that Congress failed to act on one of the most beneficial programs- to allow a primary home to be included in a bankruptcy so that the courts determine the pay back rather than the lenders who have no motivation to do anything.

      Having said that- tell her to get help today. Maybe you can help her too, to walk through the piles of paperwork she is going to have to deal with. The loss is enough...this will prove to be a trying time for her I am afraid.

      Tomorrow will come and then another tomorrow, and then one day the sun shines again.

      God bless you- you are in my prayers!

    • profile image


      8 years ago

      My sister is a stay at home Mom of two boys and her husband just passed away suddenly . What should she inform her mortgage company of at this point as she will be unable to make payments due to the loss of income. Does she have any options at this time ? Amy help would be appreicated. She lives in California and her lender is Chase .

    • fastfreta profile image

      Alfreta Sailor 

      9 years ago from Southern California

      This article is so timely, due to the worsening real estate industry. Thanks for the research. Very good hub.


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