The Foreclosure Process:

A.) Job loss, pay cut, hardship, or another change of lifestyle interrupts timely payment history.

B.) Mortgage Payments gradually become 10-20 days late. Lenders hire Collection Reps to mail and call aggressively. Other creditor reps and collection agencies call with more aggressive language for the other debts more exposed to family and neighbors, I.E.: cable, heat, cars, and family lifestyle. Tough choices are made. Household stress is evident.

C.) Mortgage on home is now 30 Days Late. Credit report is now damaged.

D.) After several cycles of good attempts to make up and maintain regular payments through direct dealings with collection reps, the loan still falters and slips even farther behind with more Bad Credit Reporting. Lender begins to cut deals with home owners, to the advantage of the Lender. This may only begin the cycle again in a few months- this time with fewer options.

E.) 60 Days Late. Home is considered being put on the market for a loss. Lender assigns local Attorney to begin the cycle of timely letters and places notices (Constructive Notice) on the door.

F.) Acceleration Notice: Lender or Attorney notifies homeowner of their intent to call the Entire Balance Due because homeowner failed to keep promissory payments.

G.) Notice of Scheduled Sheriff Sale. Attorney or Lender intends to sell the collateral (home) in an attempt to recover as much of the balance as possible.

H.) 90 DAYS PAST DUE: Credit Report is constantly being marked up every month. Little hope for refinance or timely sale at this stage. Urgent solution is required.

I.) Sheriff Sale: The contractual end of the Mortgage Note. Investor or Lender buys home at Sheriff Auction. Redemption Period begins.

J.) End of Redemption- and unless the entire loan amount was repaid-Eviction Process occurs.