how much time do we have from 1st late mortgage pmnt to foreclosure and sale?

[lookin4info]

We are now 2 months late on mortgage pmnt, 2nd pmnt was due on 8/1, 3rd on 9/1, 4th on 10/1. We are not filing until the end of Oct. How long does it take for a mortgage co. to foreclose and set up sherrif's sale. We are filing Ch 13 and
want to keep the house and continue the monthly pmnts. I just get
nervous that things will foreclose too quick before we get filed.

Or once they find out you plan on filing and continue payments, they are
happy to wait because you will still be paying.

[justbroke]

This entirely depends on what State your property is in and what type of security instrument you have. The security instrument is usually a Deed of Trust or a traditional Mortgage. It will also depend if your State uses non-Judicial foreclosures.

[lookin4info]

I am in Ohio and as far as I know, it is just a traditional mortgage.

[justbroke]

Ohio is much like Florida and typically enjoys 7 months from time of default to foreclosure. If they are behind as much as Florida, you're looking at 11 months easy.

[keepswimming]

Do you know what South Dakota is? That is where our home is but we are relocating to AZ.

[metoo]

Based on what I have seen in OH you have at least 10-12 months before it will come up for auction. You have lots of time, don't worry about it at all.