Foreclosure help
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Foreclosure Clock (continues...)


Day 110

The Loan “Accelerates”

On the 110th day of the timeline for foreclosure before the auction, many mortgage agreements will now require you to pay the mortgage in full! -This includes all the back payments, penalties, interest, and other fees as before, plus the entire amount still owed on the loan! This is known as Loan Acceleration.  If this amount isn't paid in full at least 6 days prior to the auction, your home will be sold to the highest bidder at the foreclosure auction sale in only 10 days.  Different lenders may have different rules about what is required to be paid, however. Always be sure to check with each individual lender for their required time frame pay-offs. 


Day 114

Last Day to Reinstate

On the 6th day before the auction, while in foreclosure, you can still pay off the mortgage and make up all the back mortgage payments and other fees involved and save your house from the final foreclosure auction. This is your absolute last day to pay everything back, nothing can stop the auction coming in only 6 days from now if you don't. However, even if you do pay off your entire mortgage right now, some late payments and the Notice of Default will show on your credit report.

Your lender will be very nasty after this date, so I like to refer to this day as “The point of no return.”

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