It may take several months for a foreclosure case to finish. As the case goes on, you may stay in your home. You are allowed certain periods of time to try to save your home. Until these periods are over, the case cannot move on.
After 120 days of missed mortgage payments, the mortgage company can file a lawsuit against you in court. Then, the Sheriff or process server will come to your house and give you a copy of the foreclosure complaint, which is a document that tells you why you are being sued.
If you are served with the foreclosure complaint and summons, you have 30 days to file a written Appearance and Answer. See Responding to a mortgage foreclosure case for more information.
The summons and complaint should tell you when the first court date is. You should contact the circuit clerk in your county to make sure when your first court date is. You should go to court on the date specified. In court, you may be given more time to hire a lawyer or complete the forms you need to represent yourself.
If you do not go to court, you will lose the foreclosure lawsuit by default. The mortgage company will receive a judgment of foreclosure and sale against you.
You have 90 days after you receive the foreclosure summons and complaint to reinstate your mortgage. This means you can pay off all of the missed payments plus fees and get current on the mortgage.
The mortgage company gets a judgment against you for foreclose. The mortgage company must wait until the redemption period ends to sell your home. The redemption period last for whichever is longer:
- 7 months after you are served with a summons and complaint; or
- 3 months after a judgment is entered in the foreclosure case.
The redemption period gives you time to pay off the entire unpaid balance you owe the mortgage company.
After the redemption period ends, the mortgage company can have the house sold at a sheriff's sale. The judge will then approve the sheriff's sale.
When the court approves the foreclosure sale, the title to your home is transferred. Once the court approves the sheriff's sale, you have 30 days to move out of the home.
Updated: January 2017