The letters use words most people have never needed before. Here is what each one means, and what it means for you. Rules and deadlines differ by state, so check your state’s calculator for your own dates.
A word with three meanings. (1) Property tax abatement: a reduction or cancellation of a property tax bill, often for seniors, veterans, people with disabilities or owners in hardship. (2) Nuisance or code abatement: a city or county orders a problem fixed, such as a broken-down building, trash or an overgrown yard, and if the owner does not do it, the city does the work and bills the owner. (3) Rent abatement: a reduction in rent when a home is not livable.
Ask your county assessor whether a tax abatement or exemption applies to you, because unpaid taxes can become a tax lien. Never ignore a code violation notice. In many places the city’s cleanup bill can be added to your tax bill or recorded as a lien on the home.
The lender declares the whole loan due at once, not just the missed payments.
Usually comes in a letter after you fall behind. Many states and loan contracts still let you catch up on the missed amount instead; see reinstatement.
A court, sheriff or trustee moves a hearing or sale to a later date. Some states use the word adjournment, others continuance.
It is a delay, not a cancellation. Ask for the new date in writing and keep checking, because the sale can come back quickly.
Your written response to a foreclosure lawsuit, filed with the court by the deadline on the summons.
In a court foreclosure, filing an answer on time keeps you in the case and keeps your defenses alive. Missing it can lead to a default judgment.
A state law that limits or bans the lender from suing you for the leftover balance after a foreclosure sale.
Protection varies a lot by state and by loan type. Your state page says what applies. Do not assume you are protected without checking.
A licensed appraiser’s estimate of what the home is worth.
Appraised value can matter in some states for the lowest bid allowed at a sale, for how much of a deficiency the lender can collect, and for reverse mortgage payoffs.
The amount you are past due: missed payments plus late fees and costs.
Ask for a written reinstatement quote that shows the arrears and the date the number is good through. It grows every month.
A recorded document showing the loan was transferred from one company to another.
Loans are sold often, so the company on your mortgage papers may not be the one collecting now. You can ask in writing who owns your loan.
When you file for bankruptcy, federal law (11 U.S.C. 362) immediately pauses most collection efforts, including a foreclosure sale.
It is a pause, not a cure. The lender can ask the court to lift it, and filing again and again limits the pause. Talk to a bankruptcy attorney or legal aid before filing.
A court-approved plan to repay missed mortgage payments over three to five years while you keep the home (11 U.S.C. 1322(b)(5)).
It can stop a sale and spread the arrears out. You must keep up the regular payments during the plan. Ask a bankruptcy attorney or legal aid whether it fits you.
A letter saying you are in default, how much it takes to fix it, and the deadline. Many mortgages, including the standard Fannie Mae and Freddie Mac forms, require one before foreclosure starts.
Read the date on it. It is often your first hard deadline.
An offer from the new owner or bank to pay you to move out by a set date and leave the home in good shape.
Optional. Get it in writing, including the amount, the move-out date and when you get paid.
A document the winning bidder receives right after the auction in states that have a redemption or confirmation step. The deed follows later.
If you see one, the sale has happened but ownership may not be final. Check your state page for any time you still have.
An application is complete when you have given the servicer every document and item it requires to review you for help.
The 37-day protection, and the rule against moving ahead with foreclosure while a complete application is pending, turn on the servicer having a complete application. The 120-day waiting rule applies whether or not you have applied. Ask in writing what is missing and keep proof of what you sent.
In court-run foreclosures, the judge approves the auction after it happens.
In some states you keep ownership, or can still redeem, until this order.
At the auction, the lender bids using the debt it is owed instead of cash.
If nobody outbids the lender, the lender wins and the home becomes bank-owned (REO). If the home later sells for less than the debt, ask your state page whether a deficiency is allowed.
A foreclosure generally stays on your credit report for about seven years (Fair Credit Reporting Act). Credit bureaus often count from the first missed payment that led to it, though some official sources count from the foreclosure date, so look at the first-delinquency date on your own report. The missed payments before it hurt too. A short sale or deed in lieu also hurts, usually less.
Getting another mortgage later usually means a waiting period, commonly somewhere around two to seven years depending on the loan type. Ask a lender or HUD counselor about the current rules for your situation.
The document that transfers ownership to the buyer after the sale and after any confirmation or redemption period.
Until the deed is recorded, ownership may still be open in states that have a redemption or confirmation step. Check your state page.
You sign the house over to the lender instead of going through foreclosure.
Ask in writing whether the lender will waive any remaining balance (the deficiency).
A security document used instead of a mortgage in many states. It names a trustee who can sell the home without a lawsuit if you default.
If your loan uses one, your state probably allows non-judicial foreclosure.
Not keeping the loan terms, usually by missing payments.
Default starts the clock. Most calculators on this site begin from the date of your first missed payment.
A court ruling against you because you did not respond to the lawsuit in time.
In a court foreclosure, answering by the deadline on the summons keeps your options open.
A court order for the balance still owed if the sale brings in less than the debt.
Some states limit or ban deficiencies on a home. Your state page says which.
A loan is delinquent when a payment is past due. People count it in days: 30, 60, 90, 120 days late.
Federal rules use these day counts, such as the 120-day rule. Default and foreclosure come after delinquency.
A servicer pushing a foreclosure forward while it is reviewing you for help.
Federal rules limit this once you send a complete application. See the 37-day rule.
A loan term that lets the lender demand the full balance if you sell or transfer the home.
Federal law (Garn-St Germain, 12 U.S.C. 1701j-3(d)) blocks lenders from using it for certain transfers of an owner-occupied home with fewer than five units, such as to a spouse or child who becomes an owner, to a relative who will live there after a death, or into your own living trust. Ask a lawyer before transferring a title.
What the home is worth minus everything owed against it.
Equity is what you stand to lose if the home sells for too little, and what you might get back as surplus funds if it sells for more.
An account your servicer keeps to pay your property taxes and homeowners insurance out of your monthly payment.
If taxes or insurance go unpaid, the servicer may pay them and add the amount to your loan. On a reverse mortgage, unpaid taxes or insurance can make the loan due.
The legal process to remove people from a home. After a foreclosure sale the new owner usually has to start a separate case, and the name differs by state.
You generally cannot be locked out without a court order and a sheriff. Respond to the papers on time, because that case has its own short deadlines.
Home loans backed by a federal agency. Each has its own servicing rules, such as extra steps before foreclosure and special help programs.
Tell your servicer and any counselor which kind of loan you have. It changes which help options you can ask for.
A temporary pause or reduction of payments.
The skipped amount is still owed later. Ask how it will be repaid before you agree.
If your homeowners insurance lapses, the servicer buys coverage for you and bills you. It usually costs far more and protects the lender, not you.
Federal rules (12 CFR 1024.37) require written warnings before the servicer can charge you. If you have your own policy, send proof right away.
The public sale of the home to pay the debt. Also called a trustee sale, sheriff sale or commissioner sale, depending on the state.
The sale date is on the notice of sale. Your state page shows the typical timing.
A tax form a lender sends when it forgives part of a debt, such as after a short sale, a deed in lieu or a foreclosure with no deficiency collected.
The IRS can treat forgiven debt as income. Some exclusions exist, such as insolvency, and a special one for a main home that applied to debt forgiven before 2026, or under a written agreement made before 2026. Ask a tax professional about your year before you file.
A court-ordered taking of part of your wages or bank account to pay a judgment.
It can follow a deficiency judgment in states that allow one. Some income, such as certain benefits, is usually protected. Ask legal aid before you spend or move money.
A short letter to your servicer explaining why you fell behind (job loss, illness, divorce, a death) and what you can afford now.
Part of most help applications. Keep it factual, include dates, and keep a copy.
A home passed down through a family without clear paperwork, so the legal owner may still be a person who died.
It can block help from a servicer and cause tax and foreclosure trouble. See the heirs’ property guide, and look for a free probate or title clinic.
A second loan or credit line secured by your home’s equity. It sits behind your first mortgage.
Either loan can start its own foreclosure, even if your first mortgage is current. Some states give home equity loans special rules, so check your state page.
A claim on your home for unpaid dues or assessments. In many states the association can foreclose on it, even if your mortgage is current.
Some states give associations a limited “super priority”, usually covering several months of dues, with the number varying by state, ahead of the mortgage. Keep dues current and ask for a payment plan early.
A state protection for a primary home. It can mean a lower property tax bill, or protection from some creditors up to a limit.
Generally it does not stop a foreclosure by your mortgage lender or for unpaid property tax. Do not rely on it to stop a sale.
A counselor at a housing counseling agency approved by HUD who can read your papers and talk to your servicer with you. Foreclosure counseling is usually free.
Call 1-800-569-4287. Under federal rules a mortgage relief company may not charge you before you sign an agreement with your lender (12 CFR 1015.5).
The company or agency that actually owns your loan, such as Fannie Mae, Freddie Mac, a bank or a trust. The servicer works for the investor.
The investor sets which help programs you can use. Ask your servicer in writing who the investor is.
The court’s order that the debt is owed and the home may be sold to pay it.
In many court states, this order starts a new set of clocks, such as the notice of sale and any redemption period.
Foreclosure through a lawsuit. A judge must approve the sale.
Usually slower, and you get court deadlines to answer and to raise defenses.
Liens are paid in order. The first mortgage is usually the senior lien. Later loans, judgments and many association liens are junior.
A foreclosure by the first lender usually wipes out junior liens, while a foreclosure by a junior lender leaves the first mortgage in place. Check your state page for exceptions.
In states that use strict foreclosure, the date the court sets for the end of your right to redeem. If you do not pay by then, title passes.
Missing a law day usually ends your right to redeem. Put the exact date in your calendar, ask your lawyer or counselor what you must pay, and if you need more time, ask the court before the date.
Free or low-cost civil lawyers for people who meet income limits.
Many legal aid offices take foreclosure and eviction cases, and some run clinics. Start at LawHelp.org or call 211.
A legal claim on property that secures a debt. Your mortgage is a lien, and so are unpaid property taxes, association dues and court judgments.
A lien can usually be removed only by paying the debt or by a sale. Ask a title company or lawyer to list every lien on your home.
A public notice filed with the county saying a lawsuit affects the property.
Often the first public sign of a court foreclosure. It is one reason you may start getting mail from companies you never contacted.
A permanent change to the loan terms, such as rate, length or balance, to make payments affordable.
Apply early and completely. Timing matters: see the 37-day rule.
Any option to avoid foreclosure: repayment plan, forbearance, modification, partial claim, short sale or deed in lieu.
Ask your servicer for a loss mitigation application in writing.
If a servicer denies a loan modification and you applied at least 90 days before a sale, or during the first 120 days of missed payments, you generally have 14 days from the servicer’s written notice to appeal (12 CFR 1024.41(h)). The appeal covers loan modification denials only.
Write down the date on the denial letter. The 14 days run from the servicer’s written notice, so do not wait.
A meeting, usually court or state run, where you and the lender try to agree on a way to avoid foreclosure.
Available in some states and counties only. Check your state page.
Mortgage Electronic Registration Systems, a private database that is named on many mortgages as the lender’s stand-in.
If MERS appears on your papers, it does not mean the loan is invalid. You can still ask in writing who owns the loan and who services it.
A price floor below which a property cannot be sold at auction. Some states set one, many do not.
With no floor, a home can sell for far less than it is worth. Your state page says whether one applies.
A loan secured by your home. The word also names the document in states that use mortgages instead of deeds of trust.
Your state’s foreclosure rules depend partly on which document you signed. It is in your closing papers.
Legal names for the two sides. You are the mortgagor (or trustor, or grantor). The lender is the mortgagee (or beneficiary).
Foreclosure papers use these words. If a paper names a company you do not recognize, ask your servicer how it connects to your loan.
Foreclosure without a lawsuit, run by a trustee under the deed of trust.
Often faster. You may have to go to court yourself to stop a sale.
In many non-judicial states, a notice recorded with the county that formally starts foreclosure.
It starts a legal clock. In California, for example, the notice of sale cannot be recorded until at least three months after it (Civil Code 2924).
The notice that sets the date, time and place of the auction. It is mailed, posted and usually published.
This is the date to plan around. Most states require it a set number of days before the sale.
A written notice that you must leave the home by a date, usually sent after a sale or before an eviction case.
It is not the same as a court order. Read the date and the deadline to respond, and get legal help right away.
A second loan that covers your missed payments: from HUD on an FHA loan, where it is interest-free, or from VA under its partial claim program. You repay it when you sell, refinance or pay off the loan.
Mainly for FHA and VA loans. Ask your servicer if you qualify.
The total needed to pay the loan off in full on a given day, including interest and fees.
It is different from the reinstatement amount. Ask for both in writing if you are choosing between catching up and selling.
Moving the sale to a later date. The lender, the trustee, a court or a bankruptcy filing can cause it.
A postponement is not a cancellation. Get the new date in writing, and watch for it, because some states do not require a fresh notice.
The stretch between falling behind and the sale.
This is when you have the most options. See the pre-foreclosure guide.
The court process that settles a person’s estate after a death and moves their property to heirs.
If the borrower died, the servicer may talk to an heir only after it has proof of the heir’s role. Keep a certified death certificate and the will, if any, ready.
Your signed promise to repay the loan. The mortgage or deed of trust is the security that backs it.
The party suing or selling must show it has the right to enforce the note. Do not assume that is true, and do not assume it is false. Ask a lawyer to check.
A federal law that gives renters in a home sold at foreclosure at least 90 days’ notice before they must leave, and in many cases the right to stay to the end of a lease.
Renters should keep their lease and rent receipts and not move out only because they got a foreclosure letter.
A lawsuit to settle who owns a property and to clear competing claims.
It is common after a tax sale or in heirs’ property cases. It is slow and technical, so look for a legal aid clinic.
A deed that hands over whatever interest you have, with no promises about the title.
Rescue scammers often ask people to sign one. Never sign a deed to a stranger who promises to save your home.
The right to get the home back by paying the full debt or the sale price plus costs, within a set time. In some states it runs before the sale, in some after, and in some there is none.
Deadlines are strict. See "Can I get my house back?" for every state.
The federal rules, in 12 CFR part 1024, for how servicers must handle late payments and help applications. The 120-day rule, 37-day rule and loss mitigation appeal live here.
You can send the servicer a written notice of error or request for information, and it must respond within a set time, generally within 30 business days. Some are faster, such as 10 business days to say who owns your loan, and an error tied to a foreclosure sale must be answered before the sale. The loss mitigation protections apply to a home you live in as your main residence. Small servicers (5,000 or fewer loans they own or originated) must follow the 120-day rule but are exempt from the 37-day rule and the appeal.
Bringing the loan current by paying the missed payments plus fees, which stops the foreclosure.
Many states give you this right until a set time before the sale. Ask for a written reinstatement quote.
A home the lender took back at auction because no one outbid the lender.
If you still live there, you may be offered cash for keys. See the bank-owned guide.
An agreement to pay the missed amount over several months on top of your regular payment.
Works for short hardships that are over.
A loan for homeowners 62 and older with no required monthly payment. It becomes due when the last borrower dies, leaves the home, sells, or fails to pay taxes, insurance or upkeep.
Heirs and surviving spouses usually have a limited time and a few options. See your state page.
A deadline, set by law or your loan papers, to fix the default before foreclosure goes further.
The date is usually in the breach letter or notice of default.
The date of the foreclosure auction.
It can move (see postponement). Your state calculator shows the earliest typical date.
A fraud aimed at people behind on payments. Common signs: an up-front fee, a guarantee to stop the foreclosure, a request to stop paying your lender or to pay the company instead, and a request to sign over your deed.
Under federal rules (12 CFR 1015.5) a mortgage relief company may not charge you before you sign an agreement with your lender that includes an offer it got for you. Call a HUD-approved counselor at 1-800-569-4287 for free, and report scams to the FTC at ReportFraud.ftc.gov.
A federal law that protects active-duty military from some foreclosures. For loans taken before service, a lender generally needs a court order to foreclose during service and for a period after.
A sale that skips these steps can be undone. Tell your servicer right away that you are serving or recently served, and send a copy of your orders.
The company that collects your payments and handles help requests. It is often not the company that owns the loan.
Send everything to the servicer, keep copies, and note who you talked to and when.
An auction run by the county sheriff, usually after a court foreclosure.
In some states it must still be confirmed by the court before it is final.
Selling the home for less than you owe, with the lender agreeing to take the proceeds.
Get written confirmation of whether the leftover balance is forgiven. See the short sale guide.
Whether the party suing proves it has the right to enforce the loan.
In a court foreclosure this is one of the first things a judge looks at. Ask a lawyer or legal aid whether it applies to your case.
A court transfers the home to the lender after the redemption deadline passes, with no auction. A few states, such as Connecticut and Vermont, allow it.
In these states the deadline to redeem is everything. Check the exact date in the court order.
The papers that start a court foreclosure. The summons gives your deadline to respond.
Do not ignore them. Missing the deadline can lead to a default judgment.
Money left over when a sale brings in more than what is owed.
It can belong to you, but you usually have to claim it. Watch for surplus recovery companies charging big fees for a claim you can file yourself.
In many states an investor, or the county itself, pays or holds your overdue property taxes and receives a certificate that earns interest and can lead to a tax deed if you do not redeem.
Redeeming means paying the taxes, interest and costs by the deadline. Letters from investors are not a replacement for that payment.
How counties collect unpaid property tax: by selling a lien on the home, or the home itself.
Different clock from a mortgage foreclosure. See the tax lien and tax deed guide.
A check of the public records for who owns a property and what liens or claims are on it.
A buyer at a foreclosure sale usually gets no promise about the title. If you owe other liens, ask whether the sale will clear them.
Under a deed of trust, the third party who holds the power to sell and runs the sale.
The trustee’s name and contact details are usually on the notice of sale.
The auction in a non-judicial foreclosure, run by the trustee.
Many states let you stop it by reinstating before a set deadline.
A court order that lets the sheriff remove occupants after the sale.
There is usually a notice period first. Generally, if you stay, the new owner needs a court order before you can be removed.
Federal rule: a servicer generally cannot make the first foreclosure filing until you are more than 120 days behind (12 CFR 1024.41(f)).
Use those four months to apply for help.
Federal rule: if the servicer gets your complete help application more than 37 days before a sale, it cannot hold the sale until it decides and any appeal is over (12 CFR 1024.41(g)). Small servicers are exempt.
Send a complete application early and keep proof of the date it arrived.
A HUD-approved housing counselor is free on 1-800-569-4287. This site is general information, not legal advice.
Last verified: October 18, 2026. Every state timeline on this site was checked against that state's law and the federal rules it cites. Laws change during the year, so if something here looks out of date or wrong, tell us and we will check it against the law.