Foreclosure is process of selling a home or property underlying Cialis Jelly for the loan sold by lender in case of default on the loan. Borrowers of the loan may come across this process because of some unforeseen reason such as loss of job, illness, major accident, and many other reasons that could lead to loss of property underlying the loan.

In case the borrower of the loan is unable to meet the monthly payments, the lender may foreclose the property underlying and therefore it is most important to know the process of foreclosure and how long it last before the final action you have to evict the home.

The process of foreclosure starts from the day you have missed the payments and last with eviction from the home. It is important to know because many home owners are in tensed thinking about the foreclosure and have no idea about how to handle. Worrying without taking any kind of action is not a solution to your problem instead it is better to find out how the process go through. Having knowledge about the process means homeowners can have little control over the situation and that allows you put together some plans and if possible save home.

As the foreclosure process starts from the day one, the lender will initiates the foreclosure process after 3 monthly missed payments. It means the notice is issued by the lender on the due date of the third consecutive missed payments. First three months the lender will try to collect the debt. First month, the lender will call and inform about the missed payments and request to take necessary action. At this stage nothing more is done.

Second month, the lender will send debt collector to you or by phone and find out the situation. Many people make a mistake of avoiding calls of the debt collector, but it is advisable to take a call from the lender or debt collector and explain the reason behind the default and make them clear that you are putting all efforts to bring the loan current.

If you continue to miss third consecutive payment, the lender will issue default notice and start the foreclosure process. Many individuals make a mistake of thinking the foreclosure process begins at this stage but not.

If you have not worked the solution with lender, during the fourth month lender will send you attorney to schedule a date of foreclosure of the house. Meanwhile the foreclosure notification will reach you in mail.

Remember that the sale date decided by the attorney is not the actual date of sale but the time range of the actual sale will be 2 to 3 months and also depends on the state policy and in the mean time the lender will take care of the notice publication rules.

After all the regulations are meet the home is foreclosed. After foreclosure, the date of eviction is sent to you along with demand letter.

Author Bio: Ella Harrison cialis for sale is an author and webmaster at http://i-bizza.com that gives you debt relief information and tips on how to lead a debt relief life.

Category: Finance/Credit/Mortgage
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