What is the standard timeframe for the foreclosure process to begin after a notice of default is served?

The foreclosure process typically begins after a notice of default has been served, and the standard timeframe for this to occur is generally around 60 days. This period allows the borrower to have an opportunity to address the default or make arrangements with the lender before more severe actions, such as foreclosure, are initiated. During this time, the borrower may seek to catch up on missed payments or negotiate alternative solutions, which can ultimately help avoid foreclosure altogether.

While specific timeframes can vary by state or lender policies, 60 days is a common benchmark in many jurisdictions for initiating the next steps in the foreclosure process if no resolution has been reached. This structured timeline is designed to provide some level of protection for borrowers while also allowing lenders to take action if necessary.