The first past due payment is also the first step on the way to foreclosure. After a few weeks, you will get a notice from the lender telling you you’ve missed a payment. If it’s at all possible, pay the past due bill. If you stay in default, the mortgage company will start calling. They will declare that you are in default and they will require payment. If this looks like your situation, contact your lender.

Mortgage loan modification may still be an alternative if you talk with your lender in time. Going through this process can be one of the best ways to avoid mortgage foreclosure. Most lenders will delay the foreclosure until three months of past due payments before they start foreclosure. It can take a little more time, but if you keep missing payments you will get a foreclosure notice eventually.

When that foreclosure notice arrives, you have a problem. You can stall it if you decide to attend the court hearing, but you will lose in all probability. When the court hearing is finished and the decision has been made, the banking company obtains the right to sell your house through an auction. At that moment, there are only a couple of days left to leave your home. If you do not leave, you will be forced out by the law.

Talk with your lender before things get to this point. Mortgage loan modification is frequently a good opportunity to spare your house and family from mortgage foreclosue by renegotiating terms with your lender. Read up on the mortgage loan modification procedures and make sure you fill out all the paperwork to the best of your abilities.