How many mortgage payments can you miss before foreclosure?

Answer The number of payments missed before a foreclosure gets started depends on the loan terms, bank policies and state laws. In some cases, one missed payment can trigger a foreclosure. However, in sta... Read More »

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How many payments can you miss before foreclosure process starts?

Foreclosure laws vary by state and by individual banks' policies, but generally, missing 3 months of mortgage payments will begin the foreclosure proceedings by sending out a "demand letter." This ... Read More »

Does Saxon Mortgage have a grace period for mortgage payments?

According to Saxon's website, the mortgage lender does have a grace period for mortgage payments. If a borrower goes past his grace period, Saxon assesses a late fee. The company offers online paym... Read More »

How Many Payments Can I Miss Before My Car Is Repossesed After a Bankruptcy?

Bankruptcy laws are designed to help creditors keep assets, but you still must make scheduled monthly payments or risk car repossession. The type of bankruptcy you file for also affects the risk of... Read More »

What Happens If I Miss Payments on My Home Equity Line of Credit?

A home equity line of credit (HELOC) is a mortgage product attached to a residential property. Missed payments are reported to credit bureaus and negatively impact the borrower's FICO score. When p... Read More »