Mortgage Foreclosure Steps Prior to Eviction

There are certain steps that a lender or institution chooses to obtain the money due from the property. The fact is that depending upon the state you live in, these lenders and institutions will have their own guidelines concerning the foreclosure process and however many payments a householder can miss prior to a Notice of Default (NOD) is registered against the property. Here are a few likely correspondences you may get when you miss one or several mortgage payments:

• Missed Payment
• Letter of Demand
• Notice of Default
• Notice of Trustee’s Sale
• Trustee’s Sale
• REO
• Eviction from Property
  

Hopefully this has given you an approximation of the steps involved in a regular mortgage foreclosure procedure.