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  #1  
Old 07-24-2008, 11:41 AM
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Default House Repossession, how many months do they give you to pay your mortgage?
I've just found out my sister and her husband haven't payed there mortgage for 3 months now, does anybody know how many months till it will be repossed if they continue not to pay there mortgage?

Thanks in advance!
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Old 07-24-2008, 12:06 PM
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It varies from lender to lender and depends on individual circumstances. Usually takes over a year to go through the whole process.

Your sister would be better to renegotiate the length of the loan.
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Old 07-24-2008, 12:07 PM
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They don't call it house repossession, but foreclosure. Foreclosure starts when you go 3 months without paying. Stopping payments on mortgage is a sure way to get into foreclosure.
TALKING to lender, seeing what their options are is the IMMEDIATE course of action for them.
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Old 07-24-2008, 12:07 PM
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Your sister should have been notified already. By mail and by telephone. The process most likely has already started.
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