How Many Mortgage Payments Can I Miss Before Foreclosure?

You are usually delinquent on your mortgage payment by 120 days before the foreclosure process begins. But this number can be different depending on other things, such as your lender’s particular policies and the state of the housing market in your area at the time.

Missed mortgage payments can stress anyone out. The thought of late mortgage payments is bad enough, but missing mortgage payments is worse.

What Happens When You Miss Mortgage Payments?

If you miss your monthly mortgage payments, it will be hard to catch up. Mortgage companies will charge you more money for each missed payment. This could result in foreclosure, which means you would lose your home.

Paying your mortgage is one of the most important things to do. If you miss mortgage payments, it will ruin your credit score and make it harder for you to buy things in the future. If you start missing payments, you should know what will happen next.

What Happens with the First Missed Mortgage Payment

Most lenders will give you 10-15 days after the date your mortgage payment is due before they charge you a late fee. This period is called the mortgage grace period. If you make your full payment during the grace period, the lender will not charge you a late fee and will also not report it to the credit bureaus as a late payment.

If you miss your mortgage payment or only make a partial payment, you will be charged a late fee. This fee is usually a fairly large percentage of your mortgage payment, such as 4% to 6% of the monthly payment amount. Check your mortgage loan documents to find out the exact amount of the fee.

If you miss a payment, you will get a notice saying that you owe money. The lender will also tell the credit bureau, which is a place where people can find out if you have money owed. This can affect your credit score and stay on your credit report for up to seven years.

Depending on what kind of foreclosure your state uses, the lender might send you a notice that they are going to foreclose on your home or a pre-foreclosure notice after you miss the first payment. Most lenders wait until you have missed two or more payments before sending anything.

What Happens with the Second Missed Mortgage Payment

If you miss your second mortgage payment, the lender will probably contact you to find out why. You can explain your situation and the lender may be able to put you on a plan where you pay less money or no money for a little while.

If you miss your second mortgage payment, your mortgage servicer will probably become more aggressive about getting paid. But if you keep missing payments, it will get even worse.

What Happens with the Third Missed Mortgage Payment

If you miss three payments, you will get a notice that says how much money you owe. You have 30 days to pay the money.

If you get a notice from the lender that says they are starting the formal foreclosure process, this is what it means. In Arkansas, for example, a foreclosure may or may not go through the court system. You can read more about the Arkansas foreclosure process here.

You have time to try to work something out with your lender so you don’t have to pay the full amount of your mortgage, but it is unlikely that you will be able to pay less than what you owe.

If you cannot make your payments by the deadline, and if you cannot agree with the lender about this, then the lender will start a foreclosure. This is when they take your house away from you because you have not paid. They will also sue you.

What Happens with the Fourth Missed Mortgage Payment

If you miss the deadline for your mortgage payments, the foreclosure process will usually start. First, you will be referred to your lender’s lawyers. You will have to pay any legal fees because you did not make your payments on time. But you might still be able to avoid foreclosure if you can make your payment or work something out with your lender.

Once you have four missed payments, foreclosure proceedings usually begin. Not one wants to face foreclosure, but it is important to know your options. To avoid foreclosure, talk to a foreclosure attorney as soon as you can.

The Pre-Foreclosure Process Starts

If you’ve reached this stage, you have the right to stay in your home throughout the process, but you need to act quickly. You will get notice according to Arkansas Foreclosure law.

How Long Before I Have to Move Out of My House?

From the time the foreclosure process starts, you typically have around 2-4 months before it will be over, and you need to move. DO NOT wait, act quickly.

Here are Some Ways to Satisfy Your Loan Servicer.

Catch Up on Missed Payments

The best way to stop foreclosure is to pay the money you owe. We’ve listed a few ways to do so.


When you take out a new loan to pay off your first mortgage, this is called refinancing. This can help you get a lower market interest rate or lower your monthly payment.

Loan Modification

Changing the terms of an existing loan means that you could get a lower interest rate or have more time to pay it back. Many lenders offer mortgage modification.


With this, your lender will let you pay a lower mortgage amount until you have more money.

Principal Reduction

A mortgage lender is a person who you owe money to for your home. If you cannot pay them back, they might decrease the amount of money you owe. This will lower the monthly payments that you have to make to them.

Talk to a Foreclosure Defense Lawyer or Bankruptcy Attorney

Talk to a lawyer right away. Most offer free consultations. We do. When you cannot work something out with your lender, you need to be prepared to move quickly. These lawyers can help you understand the process better and protect your rights in court.

You have options, but you need to act quickly. If you’re facing foreclosure, it’s important that you understand all of the steps outlined above before making any decisions. Don’t wait until it’s too late to get help from a legal or professional. Remember, knowledge is power! That’s why it’s so important to stay informed about what happens when you miss a mortgage payment – so that you can make the best decision for your situation. Good luck!