When Exactly Do Foreclosure Proceedings Begin?
This seller is behind two months payments......want to do a sub-to purchase on this one, but just wondering......when exactly do foreclosure proceedings begin.....is it after 90 days, this seller hasn't made payments for two months and i am concerned that on the 1st of Nov. the preforeclose will begin........or will there be a full 30 days for this to happen?......also, is it correct that once you are behind with a mortgage company that they will not accept partial payments?......seller wanted to know if they could send in one months now and the other in a couple of weeks.....This One Is For the Experts.....please advise....thanks in advance!!! 
[addsig]
Hi, I can give you book and verse on California, but Texas is the state that has the property in question. I would call the lender and ask. No harm in asking.
All banks are different and respond to market stimulae. I would think 3 months is as far out as they would go. That is standard much standard. Then there is a period of time in which to reinstate. Then there is a period of time when the Lender does not have to reinstate. and then there is the published date of sale. Judicial sale in the courts, Trustee sale on the court house steps or some other public building.
Start to bargain now. Sooner the better as costs will be less and delinquent fees can mount up. Especialy if you are doing a true save and the equity is short.
Good luck, stay in touch with the group here at TCI, they are supportive.
Cheers Lucius