Upcoming Foreclosures

Is it normal for a bank to foreclose after a 30 day late?

Our home was foreclosed on after a 30 day late in the state of Missouri. Is this common practice or is it because we had $220,000.00 equity in home? This loan was only active for 5 months. We did not receive anything stating we were in arrears from the bank until the day after the foreclosure sale and that was just a form letter from the bank asking to make up a missed payment or they would send it to the collections department. Doesn't this normally occur before it goes into foreclosure?

Public Comments

1. normal for me
2. Sounds really strange to me. Honestly though, I don't know what's considered normal anymore. Sorry to hear. :/
3. No it isn't. And yes you are/were entitled to due process. Somethings fishy. You should really have talked to an attorney. Perhaps you still can.
4. how did you have 220000 in equity after only 5 months , you sound very rich.