The first step of bank foreclosures is when the homeowner misses a payment. Once a payment is past due then the bank will send a letter. Once the homeowner has missed up to three payments the process of foreclosures really begins.

The first three months the bank will call you every day and send you mailings about your home being one of the many bank foreclosures. The best thing to do is call the bank and tell them about your situation. Don't avoid them and be embarrassed that you lost your job or you don't have the money. Today, many banks will work with you and even have programs to help you defer payments and get back on track so you can save your home.

If you decide that you cannot catch up on the payments and the bank cannot help you then the best thing to do is try to sell the house. This is the first thing the bank will want you to do is put it on the market. If the house doesn't sell then they will allow you to offer it for a short sale. If this doesn't work then you can actually offer the title back to the bank.

If you just avoid the letters of bank foreclosures and phone calls and allow your home to go into foreclosure then you will lose your home. You don't have to move out of the home until the date that the house goes to the auction at the courthouse. On this day you must be moved out of the home or you will be removed.