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We missed 2 mortgage payments, what happens next?

I live in Las Vegas & was wondering the process from people who have been through it or know someone who has. How long before they will consider a short sale? How long for them to start foreclosure? Can they kick you out of your house w/out notice & not let you back in to get your stuff? Can they take your belongings? Thanks ahead of time!

Public Comments

1. Call and ask to speak to the Loss Mitigation Dept. They may be willing to move the two payments to the back of the mortgage. Or they may be able to work something else out. Above all else, CALL THEM. Don't try to ignore them. If nothing can be worked out with them, call a bankruptcy attorney and discuss Chapter 13 bankruptcy. Bankruptcy is not the end of the world and more and more people are doing it to save their homes. Try to work with the mortgage company first! Good luck.
2. It depends on who has the loan; and your payment history---if u have been in good standings u should be able to negotiate something. The foreclosure process can take up to six months or longer, but u may be able to avoid it completely if u call around. Even Fannie Mae, Freddie Mac and your bank can provide u with referrals--I would try your local ACORN office,
3. I agree. You can't sit back and wait for something to happen or the something will be bad. Call and be neutral. Just tell them you are getting information because you have fallen on hard times. Lenders are making concessions like never before but they won't deal with an agent, they need to hear from you.
4. Are you doing this on purpose? If so, that is the reason this country is where it is. Take responsibility and pay for your home, if you want out of it, put it on the market and try to sell it. Get an extra job to make the payments, don't screw up your credit by letting your home go.
5. The lender is going to want to know why you haven't paid your payment. But get on the phone with them right away. A lot of the lenders are working thing out with the home owners if they are able to pay it back. They are going to want to know about your income and what other bills you have. Some of the lenders are putting together the information for the home owners so they can start in the process. Most lenders what to see that you have tried to sell your home. They like to see that they have been listed for 3 months. Get with an agent that knows how to do a short sale. They should be able to guide you through the process. The faster you do this gives the agent a better chance to sell your home before it would go into foreclosure.