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How Many Mortgage Payments Can I Miss Before Foreclosure?


Foreclosures have a way of creeping up on hardworking homeowners despite their earnest efforts to keep up with payments. For families who are struggling financially, it can be hard to get your feet back under you when you feel like you keep falling farther behind.

Understanding the typical foreclosure timeline

With mortgage payments, you are responsible for making your monthly payment obligation on time. Many lenders will often offer a 15-day grace period on late payments but failing to pay on time or during the grace period can make things trickier, especially if it is followed by another missed payment. Typically, late payments also come with additional burdens like added late fees and dings to your credit.

After missing two payments, you are considered to be in default on your loan, and by the third missed payment (or 90 days), the situation is serious. Your lender will be communicating with you and will be expecting full payment for the money that is owed.

During this time, you should also be actively working to negotiate possible solutions. At Jacobs Legal, we are here to help guide you through your options and help you put up the strongest defense in your case. By acting early, you may be able to avoid foreclosure altogether.

At the end of another 30 days – so four total months of missed mortgage payments – the foreclosure process will officially start.

At Jacobs Legal, we understand how overwhelming and scary it can be to be facing the threat of foreclosure. If you’re unable to make your mortgage payments month after month, you may find yourself up against your banking institution in as few as four months.

What’s essential to remember, however, is that you have options, and acting early is one of the best moves you can take to put yourself in a strong position. You can take control of the situation before you reach the end of the pre-foreclosure timeline. If you have questions or need Florida foreclosure defense, we’re here to help you fight for what’s yours. Contact us right away to begin mounting your defense.

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