How Many Payments Can You Miss Before Foreclosure Starts?
The real rule is 120 days, not a number of payments. Here is what that means for you.
No shame, no pressure. Just your options explained by a local expert who has walked hundreds of families through this exact process.
Confidential conversation. A member of our team will call you to talk through your options.
In this video, Patty Korahais breaks down federal timeline rules, why the 120-day mark matters, and the steps you can take today.
More questions Patty answers on video
Short Q&As on the questions homeowners ask us most. Watch the ones that match your situation — each one is a few minutes.
Will I owe money after the sale?
The deficiency + 1099 question — the biggest silent objection in this niche. Patty explains what can happen with the remaining balance after a short sale and why you talk to a tax professional about any 1099.
3 min watch • The money question
Can I stop a foreclosure?
The multi-question video: the miss-one-payment timeline, short sale vs. foreclosure (the keys framing), and whether you can stop a foreclosure. This is the video the team sends to notice-stage and foreclosure-stage leads.
6 min watch • The three questions in one
Why experience matters in a short sale
The agent-vetting video. Patty hands you the test and passes it: ask how many short sales your agent has closed — you don't want an agent practicing on you.
3 min watch • Choosing your agent
The Answer Most People Get Wrong
It is measured in DAYS, not in missed payments.
The most common question homeowners ask is: “How many payments do I have to miss before they start foreclosure filing?” Under federal rules, mortgage servicers generally cannot begin the formal foreclosure process until the loan is more than 120 days delinquent.
That distinction matters immensely. A homeowner might think, “I’ve missed two payments, they’re going to take my house next week.” But that is not how the legal timeline works.
An opportunity to act, not a reason to panic
While that 120-day clock is running, you have valuable time. It is a window to ask your mortgage company about options: a loan modification or a forbearance. Or to evaluate whether selling the home normally or via a short sale is your best route.
Panic causes homeowners to stop opening mail and stop answering calls. But when you understand the timeline, you can take steady, deliberate steps with a clear head.
Your Options, in Plain English
There are three clear paths when you fall behind. You may have more options than you think.
KEEP YOUR HOME
Work With Your Lender
Talk to your mortgage company about a loan modification or a forbearance. While the 120-day clock is running, servicers have established hardship programs to help homeowners catch up or restructure payments if your income allows.
SELL & PAY IT OFF
Regular Sale with Equity
You may have more equity than you think. If your home has enough equity to pay off the mortgage after the costs of sale, a regular sale works and you may not need a short sale at all. Get a free local valuation before you assume the worst.
SHORT SALE
Controlled Bank Sale
Sell the home working directly with your bank, stay in the home until it sells, and take control of the process instead of waiting for foreclosure. In most short sales, transaction costs are covered from the sale proceeds.
“How Long Can I Stay in My Home?”
Answer: In most cases, you can stay in your home until you sell.
That could be 2 months, 3 months, or 4 months. It depends on how long the bank is willing to work with you.
And here is the reassuring truth: banks usually do work with you when they are kept updated on the progress.
Communication is the key — and that's exactly what a short sale team handles for you.
When a professional real estate team is listing the property, submitting regular status reports, and communicating consistently with your servicer, the bank knows an active resolution is in motion. You have time to plan your next steps with support.
“Foreclosure is something that happens to you. A short sale is an option that you can control.”
— Patty Korahais
Patty Korahais
Keller Williams Realty • Upstate South Carolina
Greenville, Spartanburg & Surrounding Counties
“You’re Not a Failure. There Is Always a Solution.”
“Please don't feel shame. Please don't feel like you're a failure. You're not a failure. Failure only happens when you don't do anything.”
I have been a professional real estate agent in the Upstate of South Carolina for 26 years. Over that time, I have helped hundreds of people close on short sale homes and avoid the heartache of having to go through a foreclosure.
In 2008, during the last recession, I sat across kitchen tables with hundreds of families going through exactly what you may be going through now. I helped those families through short sales, and I helped builders through it too. I remember clearly how devastating that season was — and I also remember that the families who reached out early had the most options. This is your home, and we respect that. You have options.
We've all gone through stress. Life happens: health crises, job changes, family shifts. You are not alone, and you do not have to figure this out in isolation. A professional who knows this process can help you know your best next options with confidence.
Request Your Confidential Options Review
Tell us a little about your situation. A member of our team will call you to talk through your options calmly and privately.
One question to ask anyone you talk to about your home: how many short sales have they actually closed? We're happy to answer that one first.
Prefer to talk to someone right now?
Call Now: +1 (864) 385-1624A real person will answer and walk you through your options — no obligation.
What Happens on Your Call
We pull a quick, private estimate of your home's value — so you know if a regular sale could clear your mortgage.
We walk through all three options — keeping the home, selling normally, or a short sale — and which may fit your situation.
You decide the next step — no pressure, no obligation. The call is a conversation, not a commitment.
Frequently Asked Questions
Real answers from Patty's videos. Plain English, zero runaround.
Watch and Learn: Short Sale Answers on Video
Bookmark this resource library. Each video tackles one specific question homeowners face when payments fall behind.
How Many Payments Can You Miss Before Foreclosure Starts?
Answers the #1 question: why the real rule is 120 days, how it is measured, and what that window gives you time to do.
3 min watch • The 120-day rule
Will I Owe Money After the Sale?
The deficiency and 1099 question — the biggest silent worry in this situation. Patty explains what happens with the remaining balance and why you talk to a tax professional about any 1099.
3 min watch • The money question
Can I Stop a Foreclosure?
The miss-one-payment timeline, short sale vs. foreclosure, and whether a foreclosure can still be stopped once it's started.
6 min watch • The three questions in one
Why Experience Matters in a Short Sale
Short sales are a specialized transaction very few agents have ever closed. Learn the one question to ask any agent before you hire them.
3 min watch • Choosing your agent
How Long Can I Stay in My Home?
In most cases, you can stay in your home until it sells. Here's how that works and what to expect.
3 min watch • The stay-in-your-home answer
You Have Options
“Foreclosure is something that happens to you. A short sale is an option that you can control.”
If you're behind on payments and don't know your options, this is exactly what we help people navigate. Request a private call and we'll walk through your specific situation — no pressure, no cost, just answers.
Free. Confidential. No pressure and no obligation.
Rather Pick Your Own Time?
Schedule a private call below and we'll walk through your specific situation — no pressure, no cost, just answers.