When does foreclosure begin?
Sellers Answers

Lenders will initiate foreclosure proceedings when homeowners become delinquent in their mortgage obligations, usually after three payments are missed. The lender will then notify the buyer in writing that he or she is in default. The lender can request a trustee's sale or a judicial foreclosure, in which case the property is sold at public auction.

A borrower can cure the default by paying the overdue amount after the notice of default is recorded, up to a few days before the property's sale.

Some sales allow the successful bidder to take possession immediately. If the former owners refuse to vacate, the court will issue an unlawful detainer that allows the sheriff to evict them.

Borrowers should do everything they can to avoid foreclosure, which is one of the most damaging events to an individual's credit history.