Where Does the Timeline Start?

The foreclosure timeline begins when the homeowner first misses a mortgage payment. After roughly 120 days of missed payments, the lender can legally file a Lis Pendens , the formal notice that a foreclosure lawsuit has begun.

Here’s what that means for heirs: by the time you find out about the foreclosure, the process may already be months or even years in progress. A parent might have been struggling quietly for a long time. The estate might already be staring down a judgment date.

The Key Milestones in a Foreclosure

Once the Lis Pendens is filed, the lender moves toward a court judgment. In New York and other judicial foreclosure states, this involves a lawsuit , which means court filings, deadlines for responses, and eventually a referee’s report and a Judgment of Foreclosure and Sale.

Once that judgment is issued, a foreclosure auction can be scheduled. At auction, the home is sold to the highest bidder , and any equity above the debt may go to the estate. But if no one acts before the gavel falls, the opportunity to negotiate, sell privately, or recover equity is gone.

What Delays Are Available , and How to Use Them

The good news: foreclosure in judicial states like New York is not fast. The court process can take months to years. And there are legitimate ways to create additional time , notifying the court of the homeowner’s death, opening an estate, requesting time to explore a sale or loss mitigation, and engaging with the bank’s foreclosure department.

These aren’t tricks or delays for delay’s sake. They’re legitimate legal tools designed to give estates time to make informed decisions. But they only work if someone activates them. An estate that sits quietly, assuming more time exists, can suddenly find itself past the point of no return.

What Heirs Must Do Immediately

If you’ve just learned about a Lis Pendens on a deceased parent’s home, your first move is to find out exactly where in the timeline the case is. Pull the court docket. Contact the lender’s loss mitigation department. Open probate if it hasn’t been started.

Second, don’t ignore any mail going to the property. Court notices, servicer communications, and legal filings that go unanswered can result in default judgments that accelerate the timeline significantly.

Time Is the Most Valuable Asset You Have Right Now

Options that exist today may not exist in 60 days. Every week of inaction is a week of the timeline advancing. We’ve helped families who felt like they were out of time , and often, there was still a path forward.

Don’t let the deadline find you. Reach out now, and let’s look at exactly where things stand together.

Also Read: You Inherited a House in Foreclosure, Do You Have to Accept It?