How Long Does House Foreclosure Last?

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Part of the video series: House Foreclosure Tips

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Summary: How long does a home foreclosure last? Find out in this free video. Learn real estate and mortgage tricks and the how to foreclose on a home.

Views: 1,074 | Tags: home, house, process, real, realtor, estate, foreclosure, home foreclosures, real estate

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About the Expert

David M. Andersen David M. Andersen has been working in the Mortgage and Real Estate field for the last 7 years. He is both a Real Estate Broker and a Mortgage Loan Officer. ... read more

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Video Transcript

How Long Does House Foreclosure Last?

Hi this is David Anderson talking on behalf of Expert Village talking to you about the foreclosure process in particular number six "How long foreclosure last?". Well this is meant for discussion and not for legal advice. So please consult a attorney for legal advice. Most of all the references are being made without a trusty foreclosure. When you are notified about the notice of default, the count down has already begun. The trusty would already have you in notice of default recorded in a county recorders office in the jurisdiction of where your property is. At that point, you would have a hundred and fifteen days to pay back the payments you are behind on plus fees. At the point, your loan will be reinstated and you would no longer be in the foreclosure process. If you can not or do not make up the payments and fees to reinstate and by the hundred and fifteen day deadline, the lender will accelerate the loan and call for the balance due. This means that the only way that you get your home is to pay the lender the full amount due plus fees you would get additional five days to come up with the full amount plus fees due to keep your home. If you do not come up with the full amount due plus fees, then the trustee would auction off your home at the county steps of the jurisdiction where your property is located you will then only have ten days to vacate the premises. This has been David Anderson on behalf of Expert Village talking about the foreclosure process and in particular, how long does foreclosure last.