Best Answer

60 days is usual for most lenders, however, it varies.

User Avatar

Wiki User

โˆ™ 2015-07-15 19:10:15
This answer is:
User Avatar
Study guides


26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

See all cards
3 Reviews

Add your answer:

Earn +20 pts
Q: How many payments do you usually have to be behind before a financial institution decides to repossess?
Write your answer...
Still have questions?
magnify glass
Related questions

What social institution is most used when deciding if a country is underdeveloped?

The social institution that decides if a country is underdeveloped is Economics

Do you have to enroll at a college first before you can apply for financial aid?

absolutely..the financial aid office at your selected institution of higher learning in the main determining party who decides which programs you are eligible for. Also, when filling out the FAFSA, one of the questions asks for the school code. Talk to the financial aid adviser at the school you have in mind.

What is the difference between a financial accountant and a financial controller?

Accountant keeps track of business records, Controller decides where money should be spent.

What the difference between an AA and AS degree?

They are slightly different. The AA is more of a theoretical approach where the AS is more of an exact approach and career oriented. Still, it is the institution and the department within the institution that decides.

Generally speaking after a person decides to run for office his first task is to?

collect financial contributions

What institution decides when amendment to the constitution should be proposed and considered?

Whenever 2/3 of the House of Representatives agree. Article 5

What does the House Committee On Financial Services offer?

The house Committee on Financial Services offers help with budgeting for the Federal Government. They are a committee that decides what has to be paid over what should be paid in the budget.

Whats the difference between bachelor of arts in psychology and a bachelor of science in psychology?

The bachelors in arts has a more theoretical approach, while the bachelors in science is more research focused. Still, it really depends on the institution and department of that institution that decides which one it is.

If you get a new job that pays more will your child support payments go up?

The court usually decides if a new job will cause your child support payments will increase. Occasionally there is a statement in either the law or your original court order depending on the state.

How may missed mortgages payment until you are in foreclosure?

Mortgages can be written with a lot of different terms and laws, especially real-estate laws, vary greatly state to state. State law also dictates the actual process of foreclosure. Foreclosure doesn't happen when you miss x number of payments. Foreclosure is the legal process of the bank or lender trying to take away your legal right to lay claim to any equity you have accumulated in your home. They do this so that, if and when they have to repossess your home, they don't have any problems trying to sell if because you still have a financial claim to the property. Foreclosure happens when you default and a bank decides they need to foreclose so they can then evict you and resell the house. If you are missing payments on your mortgage, you need to talk to your bank/lender and talk about what's going on. Banks do not like to have to go through all the work to foreclose, evict, and sell a home. But, if you are missing payments, you need to talk to someone to figure out what the options are and which option is best for you.

What are some of the benefits for a buyer to take out a rent to own contract?

Benefits for a buy to take out a rent to own contract include not having to sell the home if one decides to move and being able to own the home if one actually decides to keep it with the rent going towards payments.

What does structured settlement mean?

A structured settlement is a financial agreement which may be agreed after a court decides damages in a personal injury case. Rather than receiving a lump sum settlement the payments may be made as an annuity. A structured settlement may be set up to provide an income for life, whereas a lump sum payment may be at risk if unwisely invested.

People also asked