When does the foreclosure process officially begin?

The foreclosure process officially begins when a lis pendens is recorded and a lawsuit is filed. This legal notice indicates that a lawsuit has been initiated regarding the property, specifically related to the lender's right to foreclose on it due to the borrower's default. Recording a lis pendens serves as a public announcement that the property is subject to litigation, which informs potential buyers and interested parties of the impending legal action.

Prior to this point, while the borrower may have missed payment deadlines or the lender might be preparing for action, the foreclosure is not formally recognized in the legal sense until the lis pendens is recorded. This step marks the transition from mere delinquency to formal legal proceedings, establishing the beginning of the foreclosure timeline.

In contrast, missing the first payment may indicate financial distress but does not trigger the official foreclosure process. Filing a complaint is indeed part of the process, but it is the recording of the lis pendens that publicly signals the start of the foreclosure. Finally, the auction of the property is a later stage in the foreclosure process, occurring only after the legal actions have progressed through the courts.