Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Foreclosure Timeline

First 30 days

30 days delinquent - notice from mortgage servicer.

60-90 days

60 and/or 90 days delinquent - notice from mortgage servicer.

Mortgage servicer sends file to legal for foreclosure process. File can be sent electronically or by other sources of mail. (60 or 90 days delinquency will depend on the mortgage servicer)

Within 10-20 days

After the attorney receives the file, it generally takes 10-20 days to institute foreclosure action.

Attorney sends 30-day collection letter to request information but does not have to wait 30 days to foreclose.

Next 21-62 days

Attorney then places publication in the newspaper for 3 weeks to catch any parties that may have a claim that are not known or on whom service cannot be attained.  Answer date is 41 days from the first date of publication.  State related interests, including child support, can attach to the mortgage as well.

20 days from date of service

If served personally, the parties have 20 days from the date of service to file a response.

If no answer is filed, a default judgment may be entered after the answer time has expired.

Within 10-30 days

After/if judgment has been entered, there is a 10 day period before execution and sale. The notice of sale must be published for 3 consecutive weeks and the sheriff's sale must be held between 7-14 days after the last day of publication.

Day of sale

Sheriff's sale occurs. At the sale, taxes are collected if they are delinquent, then the proceeds from the sale go to payment of the judgment.

Redemption period 3-12 months

3 months if less than 1/3 of the first mortgage indebtedness has been paid - 12 months if less than 1/3 of the first mortgage indebtedness is still due and owing. The period for mortgage balances in between is left up to the court to establish. This redemption period will be identified as a journal entry in the petition.  The court may set a different redemption period depending on the value of the home verses the amount of the liens. 

  • During redemption period, the owner can do whatever they want with the property, including stay living at the property or rent it to third parties. However, the lender can terminate the stay of redemption period if illegal activities are happening there.
  • If the property is being rented to someone, the notice of sheriff's sale should be sent to the tenant as well as the property owner. Paying and receiving rent has nothing to do with the foreclosure.
  • The borrower can sell their redemption rights to others and/or quit claim the property for cash.

After redemption period

At the expiration of the redemption period, a sheriff's deed will be issued to the holder of the certificate or purchase issued to the purchases at the sheriff's sale.

Upon the expiration of the redemption period a writ of assistance may be issued by the court to remove anyone from the property and deliver the same to the purchaser at the sale. Once writ of assistance is issued and served, the house must be vacated.  Deficiency judgments are possible, also possible tax implications involved

Office of the Kansas Attorney General - Foreclosure Timeline
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O -
Foreclosure Laws and Procedures By State

 I think it might be helpful to find the rules for each state and post them. if this has been done alread please post a link.

TY!
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Knows About Timelines
Other Forum participants addressed this topic some time ago, as to timeframe rather than timeline as to particular milestones, in the discussion thread with subject "What is the timeline/process of a foreclosure?" originally posted by April on 12/18/07 at 07:45 PM.
 
Freddie Mac foreclosure time standards by state are shown in a table and the reference is given.  The table shows the wide disparity in outcomes reflecting variation in foreclosure procedures amongst the various states.
 
Use the Forum search feature to find these older posts.
 
It is very important to bear in mind that the procedures can vary widely from state to state and differ most significantly between those states adhering to strict judicial foreclosure and those states where non-judicial foreclosure by private power of sale prevails.
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The Equitable One
What a different timeline or timeframe there is when filing suit against  "them" for various and sundry illegal acts.

I home can be lost in a very short amount of time. Litigating a suit against "them" takes years.

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