What to do next
Contact the lender before default deepens
Forbearance, repayment plans, and loan modification are far more available early. Lenders generally prefer restructuring to enforcement, which is expensive for them too.
Understand which process applies
Procedures and timelines differ by jurisdiction — judicial foreclosure, power of sale, or other mechanisms — and determine how much time you have and what notice you are owed.
Get independent advice and avoid rescue scams
A lawyer or a legitimate non-profit housing counsellor can review options including refinancing, selling on your own terms, or defences where the lender failed to follow process. Be wary of anyone demanding large upfront fees.
Frequently asked questions
How long before I lose the home?
It varies substantially by jurisdiction and process. Acting early materially increases your options, which is why the first missed payment is the moment to seek help.
Can I still sell the property?
Often yes, and selling on your own terms usually yields more than an enforced sale. Get advice on timing and on any shortfall.
Are there defences to foreclosure?
Sometimes — including procedural failures by the lender or issues with the loan itself. These are technical, so have the file reviewed.
Will I still owe money after the sale?
Possibly, depending on jurisdiction and whether the sale covers the debt. Ask specifically about deficiency exposure before agreeing to anything.
This is general information, not legal advice. Laws vary by location and every situation is different — speak with a qualified lawyer about your specific circumstances.