How many missed payments before foreclosure starts?

Most lenders begin the formal foreclosure process after 90 to 120 days of missed payments. However, the timeline varies by lender and state. Some states require judicial foreclosure, which takes 6 to 18 months, while non-judicial states can complete foreclosure in as little as 60 days after the Notice of Default.

Will selling my house stop foreclosure?

Yes, as long as you sell before the foreclosure sale is finalized. A cash sale closing in 7 to 21 days is typically fast enough to beat the foreclosure timeline. The mortgage balance, including late fees, is paid from sale proceeds at closing.

Can I sell my house if I am in pre-foreclosure?

Yes. You own the property until the foreclosure sale is completed. During pre-foreclosure, you can sell the house, pay off the mortgage from proceeds, and avoid a foreclosure on your credit report.

How much does foreclosure hurt my credit score?

A completed foreclosure typically drops your credit score by 100 to 160 points and remains on your credit report for 7 years. Selling before foreclosure completes avoids this — late payments still affect your score, but the damage is significantly less severe.

Behind on Mortgage Payments? Sell Your House Fast

Missing mortgage payments is terrifying — the late notices, the phone calls from the bank, the dread of losing your home and destroying your credit. But here is what most people do not realize: you have a window to act. If you sell before the foreclosure process completes, you can pay off the mortgage, protect your credit score, and walk away with whatever equity remains. A cash sale is the fastest way to make that happen.

Chitty Buys Houses is a nationwide cash home-buying service that buys houses in any condition, helping homeowners sell fast without repairs, fees, or waiting.

How Does Foreclosure Affect Your Credit?

A completed foreclosure is one of the most damaging events for your credit score:

Credit score drop: A foreclosure typically reduces your credit score by 100 to 160 points, according to FICO
Credit report duration: Foreclosure stays on your credit report for 7 years from the date of the first missed payment
Future borrowing impact: Most lenders require a 3 to 7 year waiting period after foreclosure before approving a new mortgage
Employment effects: Some employers check credit reports during hiring, and a foreclosure can raise red flags
Rental difficulties: Landlords routinely reject applicants with foreclosures on their credit history

Selling before foreclosure completes avoids all of this. Late payments still affect your credit, but the damage is significantly less than a completed foreclosure.

What Is the Pre-Foreclosure Timeline?

Understanding the timeline tells you how much time you have to act:

Days 1-30: First missed payment — late fee assessed, lender sends reminder
Days 31-60: Second missed payment — lender contacts you by phone and mail
Days 61-90: Third missed payment — lender may assign your account to loss mitigation
Days 90-120: Lender files a Notice of Default or lis pendens, beginning the formal pre-foreclosure process
Days 120+: Foreclosure proceedings move forward — timeline varies by state (judicial vs. non-judicial)

In judicial foreclosure states, the process can take 6 to 18 months. In non-judicial states, it can happen in as little as 60 days after the Notice of Default. Either way, acting early gives you more options.

How Does Selling Protect Your Credit?

When you sell before foreclosure completes, the mortgage gets paid off from sale proceeds at closing. Your credit report shows late payments — not a foreclosure. The difference matters:

Late payments affect your score for 7 years but the impact diminishes over time
A foreclosure creates a severe, lasting negative mark that takes years to overcome
Selling voluntarily shows future lenders that you took responsible action

What If You Owe More Than the House Is Worth?

If your mortgage balance exceeds your home's current market value, you have two options:

Short sale: Your lender agrees to accept less than what is owed. Cash buyers can work with your lender to facilitate this. It takes longer than a standard cash sale but is still far better for your credit than foreclosure.
Deed in lieu of foreclosure: You voluntarily transfer the property to the lender. This avoids foreclosure proceedings but still appears on your credit report.

A cash buyer can help you evaluate which option makes the most sense for your situation.

Why a Cash Sale Beats a Traditional Listing

When you are behind on payments, time is your most valuable asset. A traditional listing takes 3 to 5 months — during which you accumulate more missed payments, late fees, and credit damage. A cash sale closes in 7 to 21 days, stopping the clock on all of it.

Free Resources for Homeowners Facing Foreclosure

Whether you sell or explore other options, these free resources can help:

HUD Housing Counselors: Free foreclosure prevention counseling at 1-800-569-4287
HOPE Hotline: Foreclosure avoidance help at 1-888-995-4673

Take Action Before It Is Too Late

The sooner you act, the more equity and credit you save. Call Chitty Buys Houses at (888) 913-9906 or request your free cash offer online. We can close before your next payment is due.