If i stopped paying my mortgage payments and my home is headed for foreclosure, how long can I stay in my house?
The amount of time you may continue to stay in your home is dependent on many different factors. The average foreclosure time line is as follows: (1) you stop paying your mortgage payments, (2) when you are between three and four months behind in payments, the mortgage lender will file a “Notice of Default” with the County Recorder’s office. This notice gives you 90 days by law to cure the default before the lender can file a notice of sale, (3) three months go by since the recording of the notice of default, the lender now files the “Notice of Trustee’s Sale” which sets the sale date for your home approximately two to three weeks later. You have up to five days before the sale to reinstate the loan by paying the full past due amount. Within five days of the sale, the lender can refuse reinstatement and demand full loan payoff, (5) they sell your property at auction (usually back to the lender), (6) the new owner of your property serves you with a 3-day notice to quit. If you are not o
