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How long after forebearance does house go into foreclosure?
Did forebearance for 18 mos. Now the bank gave me modification which I cannot afford. Looking to sell the house.
Asked By Carol H. | South Bound Brook, NJ | 770 views | Finance Legal Info | Updated 3 years ago
Answer(2)
Amanda Courtney
REP Realty Group
Once forbearance ends, you’ll need to resume your regular mortgage payments or set up a repayment plan with your lender. If payments are not made, the foreclosure process can start within about 60 to 90 days, depending on your state’s laws and the lender’s policy.
- 1 month ago
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Christine A. Hunter
Hunter Real Estate, LLC.
In this market you should be able to sell the house rather quickly and get out from under it. Foreclosure takes 9-12 months
- 3 years ago
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