What are the foreclosure timelines in my state?

In Washington State, there is a timeline for foreclosure which is set in place by foreclosure law. The timeline begins when the homeowner misses 3 payments in a row, at which point the lender can initiate a foreclosure by filing a Notice of Trustee Sale. The Notice of Trustee Sale must be recorded in the county records and published twice in a local newspaper, at least 14 days before the sale. The homeowner must then be given at least 90 days’ notice before the foreclosure sale can take place. During this 90-day period, the homeowner may be able to avoid foreclosure by refinancing, entering into a repayment plan with the lender, or selling the home. After 90 days, the lender can then advertise and hold the foreclosure sale. The sale is conducted by a court official and the home is sold to the highest bidder. The sale must be completed at least 30 days prior to the date of expiration of the foreclosure notice. If the lender is the successful bidder at the foreclosure sale, the lender will usually be able to take immediate possession of the property. If the borrower bids at the foreclosure sale and is successful, then the borrower has a right to continue living in the home as a tenant until they receive a notice to vacate the property. The total time it takes for a foreclosure in Washington State is approximately 120 days.

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What are the foreclosure timelines in my state?

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