The length of the foreclosure process depends a lot on which state you live in and the type of foreclosure procedure utilized, which is either judicial or non-judicial.
Judicial foreclosures are those where a lawsuit must be filed to get the court’s permission to foreclose. This foreclosure process tends to be more drawn out than non-judicial foreclosures since everything is processed through the courts, but timelines can vary from state to state. In some judicial states, foreclosures can take up to three years to process, which means you may have a longer period of time to fight for your home.
The more common method is non-judicial foreclosure, which is preferred by many lenders because it typically moves very quickly. With fewer delays, banks might be able to sell your home at auction as soon as two to three months after you’ve received your Notice of Sale. Keep in mind, your state might operate a bit differently, so it could take as long as six months or more.
Regardless of where you live, your best bet is to act as early as possible. Our legal team is here to answer your questions with free consultations. We’re happy to discuss your unique situation and help you decide which solution is best for you. Give us a call now to learn more.