Foreclosure

What Is Foreclosure?

What is foreclosure? Get an overview of basic foreclosure terms, the steps in a foreclosure, and how to stop a foreclosure.

What Does It Mean to “Default” on a Mortgage Loan?

The terms of the mortgage or deed of trust you signed when getting your home loan usually define what constitutes default.

Foreclosure Timeline: After You Miss Your First Payment

Generally, homeowners have to be more than 120 days delinquent before a foreclosure can begin.

Your Options to Avoid Foreclosure

If you’re behind in your mortgage payments, you might be able to avoid a home foreclosure with one of these options.

Last-Minute Strategies to Stop Foreclosure

If you're facing foreclosure, you might be able to stop the process by filing for bankruptcy, applying for a loan modification, or filing a lawsuit.

How Can I Delay a Foreclosure?

Learn how you can slow down—or perhaps permanently stop—a foreclosure.

Defenses to Foreclosure

Learn about common defenses, like servicer mistake, and how you can protect yourself from foreclosure.

Chart: Judicial v. Nonjudicial Foreclosures

Foreclosure works differently in different states.

The Statute of Limitations in Foreclosure Actions

If a lender starts a foreclosure against you after the statute of limitations has expired, you can raise this issue as a defense.

Do I Need a Foreclosure Attorney?

If you're facing a foreclosure, find out when hiring a lawyer is a good idea—and when it might not be necessary.

How Much Will a Foreclosure Attorney Charge?

How much a foreclosure lawyer will charge for legal fees depends on the fee structure.

What If I Can't Afford to Hire a Foreclosure Lawyer?

Get guidance on handling part of a foreclosure case yourself, or finding free or low-cost legal help.

What Is Lien Priority?

Lien priority determines the order in which creditors get paid following a foreclosure. If a lien has priority over another lien, it gets paid before the other lien.

What Happens to a Mortgage When One Spouse Dies?

Federal law can help you keep a mortgaged home you inherit.

How to Get Rid of Your Mortgage Escrow Account

You might be able to cancel your mortgage escrow account and pay property taxes and insurance on your own.

What's the Difference Between Homeowners' Association (HOA) Bylaws and CC&Rs?

Learn how an HOA's Declaration of Covenants, Conditions, and Restrictions and bylaws differ.

Homeowners' Association Super Liens

In some states, homeowners' association liens are given a special status. These liens are called "super liens."

HOA Liens and Foreclosures: An Overview

If you fail to pay homeowners' association dues or assessments, the HOA might foreclose.

What Happens If You Don't Pay Property Taxes on Your Home?

If you fail to pay your property taxes, you could lose your home to a tax sale or foreclosure.

Options to Get Your Home Back After a Tax Sale

If your home was sold in a property tax sale, you might be able to get it back.

What Happens If My Home Goes to a Tax Sale?

Learn about how tax sales work and how you might be able to reclaim your home after a tax sale.

Manufactured Home Foreclosures & Repossessions

If you default on your manufactured home loan, the lender might be able to take possession of it through repossession or foreclosure.

Manufactured Homes: What Happens If I'm Behind on My Land Lease Payments?

If you default on the lease or rent payments for the land your manufactured home sits upon, you could be evicted and have to move your home.

Is Buying a Mobile Home a Good Investment?

Mobile homes are unique investments; is one right for you?

How Bankruptcy Can Help With Foreclosure

If you are facing foreclosure, Chapter 7 bankruptcy can temporarily halt the process. Chapter 13 bankruptcy can help you catch up on missed payments and keep the home.

Keep Your House With Chapter 13 Bankruptcy

You might be able to avoid foreclosure by filing for Chapter 13 bankruptcy.

Should I File for Bankruptcy Before or After Foreclosure?

It's often advantageous to file for Chapter 7 bankruptcy before you lose your home to foreclosure.

Avoiding Foreclosure: Can Someone Else Assume (Take Over) the Mortgage?

Learn what it means to “assume” a mortgage loan and how an assumption might be able help you avoid a foreclosure.

How to Get a Mortgage Loan Modification

If you're struggling to pay your mortgage, you might be able to lower your payments with a loan modification.

Help for Homeowners With FHA Loans

If you have an FHA-insured loan and are struggling to make mortgage payments, HUD has programs to help you avoid foreclosure.

Using a Reverse Mortgage to Prevent Foreclosure

For homeowners 62 and over, a reverse mortgage could help avoid foreclosure. But it's usually not the best option.

Foreclosure of Reverse Mortgages

Learn when a lender can foreclose if you have a reverse mortgage.

Can I Leave My Home to My Heirs If I Have a Reverse Mortgage?

If you take out a reverse mortgage, you can leave your home to your heirs when you die. But you'll leave less of an asset to them, and they might have trouble keeping the property.

Rights of Renters in Foreclosure

When the bank forecloses on the landlord, most tenants can stay in their rental.

Protections for Tenants After a Landlord’s Foreclosure

The federal Protecting Tenants at Foreclosure Act of 2009 (PTFA) ensures that renters have adequate time to find alternative housing after the home they’re living in gets foreclosed.

Tenant Evictions After Foreclosure in California

In California, the new owner of a foreclosed property must perfect title before serving tenants with a three-day notice to quit.

Can a Timeshare Be Foreclosed for Nonpayment of Fees or Assessments?

If you purchase a timeshare, you will ordinarily be responsible for maintenance fees, special assessments, utilities, and taxes pertaining to the property.

Options to Avoid a Timeshare Foreclosure

If you've fallen behind in your timeshare mortgage payments or assessments, your timeshare could be foreclosed.

Consequences of a Timeshare Foreclosure

Learn what happens after a timeshare foreclosure.

Right of Redemption After Foreclosure

When available, the right of redemption allows you to get your home back after a foreclosure.

Deficiency Judgments: Will You Still Owe Money After the Foreclosure?

If you lose your home to foreclosure, you might still owe money to your lender.

Foreclosure Surplus Funds

Can you get money back after foreclosure? Learn whether you can get the overage funds from a foreclosure.

Key Aspects of State Foreclosure Law: 50-State Chart

Check out this 50-state chart to learn about the important features of each state's foreclosure procedures.

How Judicial Foreclosure Works

Learn the basics about judicial foreclosures.

How Nonjudicial Foreclosures Work

What is a nonjudicial foreclosure? Find out here.