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How many mortgage payments can you miss before foreclosure?

By Peter G. Miller, Bankrate.com"How many mortgage payments can I miss before foreclosure?" is a crucial concern these days, as the coronavirus continues to drastically impact household incomes. As of May, more than 4 million mortgages were past due, according to Black Knight — and the delinquency norm, generally two or three missed payments and you're out, has been replaced with new rules in the pandemic. First, however, let's look at missed payment practices under normal circumstances. • What happens if I miss a mortgage payment? A mortgage is a contract between a borrower and a lender in which the lender agrees to provide money upfront while the borrower agrees to repay the debt over time and with interest.Read more on NewsOK.com

 

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