not paying mortgage for 1yr and 5months

Once your past due, the lender can initiate foreclosure at any time.. the process with all disclosures and notifications takes about 120 days.. but it's obvious BofA has dragged their feed on your particular scenario.. regardless of how fast they can foreclose, they will first have to send you a notice, and it will tell you the date, time and location of when the sale will take place, so you will have plenty of notice to vacate the property ahead of time.. If you see that this is an inevitable event, the lenders have a program called "Cash for keys".. they will actually pay you to move out and sign over the deed back to the lender.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

It takes a while depending on the state and how back-logged BOA is, the process could have been completed a long time before this. Get local legal advice. You may be able to find a certified housing counseling agency at: www.nfcc.org or http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

They can do it anytime... Officially if you are 31 days late, they could start. Historically they have started after about 90-days. Most recently, they are running about 12 months.

Your lender can foreclose upon the house once you are over a month late on your mortgage payment. I would suggest seeking legal help for your situation.

Definitely consult a legitimate housing counselor and your lender to see what they can do for you. I am sure they will have been trying to reach you and sending you paperwork in the mail to try to enable you to start a process to either modify your loan or come to some other resolution which would involve them taking title by you signing the deed over, or persuing a short-sale, etc. Good luck! Rob Hanson robhanson@Emortgagegroup.com

If you are able to make payments now, contact your lender and ask for a repayment plan. In most cases, you will have to make a down payment on the plan of 3 to 6 months payment. If you are not able to make payments, just sit tight. You will receive ample legal notice about any foreclosure notice, which could be weeks, months, or even years from now.