[mrestrd@sbcglobal.net]

before foreclosure proceedings start?

[col. Kurtz]

In calif 2-3 months behind will trigger a Notice of Default you still have time to "cure" the default on your "promise" to pay...

90 days after you're served w/the NOD, if you havent remedied the situation they publish the "notice of Intent to sell under Note and Deed of Trust" then you have 10 days(?) before they sell it on the courthouse steps!!

[QsAs]

You should first read the note and mortgage that you signed. You become delinquent on your mortgage as soon as you do not make a payment within the terms stated in the Promissory Note. Although lenders usually will go through the normal routine of sending late notices and letters, I believe they can start foreclosure proceedings as soon as you have missing a monthly payment. Again, you should read your note and mortgage, in case they provide some information on this.

With the all the mortgage defaults now occurring due to the collapse of the sub-prime mortgage market and the slowing economy, there have been reports in the news about existing or possible future programs that can help borrowers that can not make timely mortgage payments. I am not sure who you should contact, but your lender may be a good start, as they may know about these programs. If you have access to free legal aide in your area, definitely contact them. With all the recent political interest in the housing market, a call to your congressman or congresswoman would also be a good idea.

In the past, lenders often would work with delinquent borrowers to help them get through a difficult financial period. However, I just heard on Bloomberg News that lenders are beginning to aggressively pursue foreclosures as the housing market continues to decline, so you may what to look to other sources for advice and financial assistance.