30 Days past due: If you haven't paid your mortgage in at least 30 days, your lender may report this to the credit bureau. Your credit report is now showing a mortgage deficiency and chances are you will be served foreclosure papers in the future if you are unable to get in touch with your bank.
90 Days past due: The bank can begin foreclosure proceedings. A notice of default may be filed and you will be served foreclosure paperwork. At this point, you have 90 days to pay what you owe including court fees and costs if you'd like to keep your home. After this, you will most likely not hear from the bank any longer. This is the best time to obtain a foreclosure defense attorney.
180 Days past due: By this time you may receive a Notice of Foreclosure Sale.The notice will list the location, date, and time of the auction. Once a sale date is set, the bank may offer to reinstate your loan before sale. However, they will most likely ask for all the past due amount along with a variety of fees that will come to an amount that most people wouldn't be able to pay.
201 Days past due: At this time your house will be auctioned and either sold to an individual or it will be seized by the bank.
It is not too late to hire a licensed Foreclosure Defense Attorney. Even if a sale date has been set, a lawyer can still help you with your case. In the state of Florida, if you are not represented by a lawyer the foreclosure process can take as little as 201 days. However, a foreclosure attorney can prolong the process for years while keeping you in your home. Your lawyer may even want to discuss a strategic default, meaning that you could stay in your home for a longer period of time while saving money or looking for a new place to live.