1.2.2.2 Determine Time Constraints

At the outset, identify any deadlines that the homeowner faces, especially any foreclosure sale date. For example, in judicial foreclosures important deadlines may include: the due date for filing an answer in response to the complaint for foreclosure, the date set for redemption, the foreclosure sale date, and the confirmation sale date.

Non-judicial foreclosures tend to proceed much more quickly, but there are nevertheless statutory steps a lender must take in order to foreclose. Important events to watch for include: notice of default and/or notice of acceleration; notice of sale; and the auction date. In several non-judicial foreclosure states, the ability to challenge a foreclosure sale may even extend into the post-sale eviction process.⁶ Advocates should be aware of important dates established by state law and local practice when the borrower faces repossession of a manufactured home, a tax sale, or forfeiture on a land sale contract.

It is also important to be aware of deadlines related to loss mitigation opportunities. For example, in most cases, prohibitions on dual tracking—reviewing loss mitigation applications and pursuing foreclosure simultaneously—are tied to when the servicer receives the application for assistance relative to a scheduled foreclosure sale.⁷ These deadlines may be created by federal or state law, as well as by the servicing guidelines set by an investor, insurer, or guarantor. Important deadlines may be linked to the date of default.