For most Montanans, a mortgage company cannot officially begin the foreclosure process until you are 120 days (about 4 months) behind on your payments. Then, in most cases, the mortgage company can begin the foreclosure process just by providing public notice of the foreclosure.
Next, the mortgage company must send you a letter 120 days before the trustee’s sale. A trustee’s sale is where the mortgage company sells the property at a public auction to the highest bidder. In most cases, you can stop foreclosure of your home by paying the mortgage company or bank the full amount of your missed payments, plus any fees, before the trustee’s sale.
Montana Legal Services Association can provide legal advice on issues such as default on mortgage, mortgage servicing, lender disputes, and more. Apply at MontanaLawHelp.org/apply or by calling 1-800-666-6899 Tuesday through Thursday from 9am to 1pm.
Montana Legal Services Association (MLSA) shares legal tips to help Montanans better understand their rights and find free resources. Follow us for more helpful info!
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[Image description: Blue background with blue and green text that reads, “Timeline of a foreclosure.” Above the text is a set of keys with a yellow house keychain attached, and below is a red and white calendar. Below the calendar are the logos of MLSA, LSC, and Montana Law Help.]