Q: When is a mortgage payment considered past due allowing the financial institution to bring a foreclosure proceeding?
A: Assuming this is a mortgage on your home, the financial institution must provide you with a written notice of default and right to cure your mortgage loan default (assuming that the default is for non-payment). The notice must state that you are "in default" and that you have 35 days to cure the default. Being "in default" means that you are behind in making your mortgage loan payments when due or that you have not paid your taxes or your insurance when due. The financial institution cannot begin a foreclosure proceeding to foreclose your mortgage until after that 35 day notice expires and unless you are still in default.
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