Foreclosure is a situation in which a homeowner is unable to make full principal and interest payments on his/her mortgage, which allows the lender to seize the property, evict the homeowner and sell the home, as specified in the mortgage contract. One month after the homeowner misses a mortgage payment, he/she is in default and will be notified by the lender. Three to six a few months after the homeowner yearns for a mortgage payment, assuming the mortgage is still delinquent, and the home owner has not made up the missed payments inside a specific grace period, the financial institution will start to foreclose. Typically the farther behind the customer falls, the more difficult it becomes to capture up since lenders add fees for payments that are 10-15 days past due. Each state has the own foreclosure laws within the notices the lender must post publicly and/or with the homeowner, the homeowner's choices for bringing the loan current and avoiding foreclosure, and the method for s...