The North Miami Foreclosure Timeline

The foreclosure process in North Miami follows a series of predictable stages, from the first missed payment to a potential public auction. This guide explains each phase in simple terms, highlighting key moments where homeowners can take action—such as requesting loan modification or considering a strategic sale—to avoid foreclosure. Understanding this timeline provides a crucial window to explore all available options and regain control of the situation.

• Foreclosure is a legal process; it does not happen overnight.
• Early communication with your lender is the most critical first step.
• You have options at almost every stage, including selling the home.
• Ignoring notices will accelerate the process and limit your choices.
• Professional guidance from an attorney or housing counselor is highly recommended.

1. Missed Payments: The process begins after you miss your first mortgage payment. Lenders typically offer a grace period.
2. Notice of Default: After several missed payments (often 90-120 days), the lender will send a formal Notice of Default.
3. Legal Filing (Lis Pendens): The lender files a lawsuit in Miami-Dade County, which creates a public record. This is the official start of the judicial foreclosure process.
4. Response Period: You have a limited time to formally respond to the lawsuit.
5. Final Judgment & Auction: If the case proceeds, a judge can issue a final judgment of foreclosure and schedule a public auction date for the property.