| How
long will it take before they sell my house?
The Mortgage
Company will likely begin the Foreclosure
process within 90 to 120 days from the first
missed payment. However, there remains plenty of
time to complete a Loss Mitigation Agreement
with the lender. The table below shows the
average timeline between the Notice of Default
(NOD) and the foreclosure sale in the individual
states and any redemption period that they may
have.
What is a redemption period?
A redemption period is the time frame after your
house has been sold at an auction. You have that
amount of time to buy back the house from the
entity who purchased the home at the auction.
You have to be careful not to let your home go
into the redemption period. It is almost
impossible for someone that has been foreclosed
to secure financing to re-purchase the home back.
| Alabama |
3
months |
12
month redemption period |
| Alaska |
4
months |
No
Redemption |
| Arkansas |
3
months |
No
Redemption |
| Arizona |
3
months |
No
Redemption |
| California |
4
months |
No
Redemption |
| Colorado |
5
months |
75
day Redemption |
| Connecticut |
6
months |
No
Redemption |
| Delaware |
7
months |
No
Redemption |
| DC |
4
months |
No
Redemption |
| Florida |
7
months |
No
Redemption |
| Georgia |
3
months |
No
Redemption |
| Hawaii |
7
months |
No
Redemption |
| Idaho |
9
months |
No
Redemption |
| Illinois |
10
months |
No
Redemption |
| Indiana |
9
months |
3
month Redemption |
| Iowa |
7
months |
6
month redemption if Judicial Foreclosure |
| Kansas |
4
months |
6-12
month Redemption |
| Kentucky |
7
months |
No
Redemption |
| Louisiana |
6
months |
No
Redemption |
| Maine |
10
months |
No
Redemption |
| Maryland |
5
months |
No
Redemption |
| Massachusetts |
5
months |
No
Redemption |
| Michigan |
3
months |
6
month Redemption |
| Minnesota |
4
months |
6
month Redemption |
| Mississippi |
4
months |
No
Redemption |
| Missouri |
3
months |
No
Redemption |
| Montana |
6
months |
No
Redemption |
| Nebraska |
4
months |
No
Redemption |
| Nevada |
4
months |
No
Redemption |
| New
Hampshire |
3
months |
No
Redemption |
| New
Jersey |
10
months |
10
day Redemption |
| New
Mexico |
5
months |
No
Redemption |
| New
York |
10
months, this could take as long as 3
years |
No
Redemption |
| North
Carolina |
4
months |
No
Redemption |
| North
Dakota |
4
months |
60
day Redemption |
| Ohio |
8
months |
No
Redemption |
| Oklahoma |
7
months |
No
Redemption |
| Oregon |
5
months |
No
Redemption |
| Pennsylvania |
9
months |
No
Redemption |
| Rhode
Island |
3
months |
No
Redemption |
| South
Carolina |
6
months |
No
Redemption |
| South
Dakota |
4
months |
No
Redemption |
| Tennessee |
3
months |
No
Redemption |
| Texas |
2
months |
No
Redemption |
| Utah |
5
months |
No
Redemption |
| Vermont |
10
months |
No
Redemption |
| Virginia |
4
months |
No
Redemption |
| Washington |
5
months |
No
Redemption |
| West
Virginia |
4
months |
No
Redemption |
| Wisconsin |
10
months |
No
Redemption |
| Wyoming |
3
months |
3
month Redemption |
|
