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FORECLOSURE PROCESS

• After 15-30 days, lender sends a payment reminder.
• After 2-3 missed monthly payments, the lender transfers over to an outside trustee. 
• The trustee sends an official NOD (Notice of Default) and the foreclosure process begins.
• The trustee begins the foreclosure process by posting a foreclosure notice in the county's legal newspaper or in the local newspaper
• If monthly payments are not made on the property for the next 3-4 months the Bank (Beneficiary) has multiple options.
• Sell it on the courthouse steps, put the property up for auction or hire a Realtor and put it on the open market.
• Most banks will do all three to get the home sold.