Sometimes a homeowner will fall behind on their mortgage, but they don't actually lose their home to foreclosure for a long, long time. How long? We've had clients who were in foreclosure for 11 years before their case was resolved!
People who stop paying their mortgage but continue to live in their home for years without anything happening can get used to that. Mistake. While at times it may seem like nothing's going on, the wheels are turning.
Some homeowners forget how serious their situation is, and then they get a notice that their home is scheduled to be sold in a foreclosure auction, and they're shocked and unprepared and have few options available to them.
Remember that when you fall behind on your mortgage, your home will eventually be lost and you and your family will be evicted if you can't resolve your default. Don't let it happen to you!