What Are The Steps For A Foreclosure On A House?

Factual Questions
1

I overheard some people talking where I work and she said that though her house was foreclosed on she won’t have to leave for months yet.

I have never owned a house or condo, so I got to thinking, what are the steps involved in a foreclosure of a house or condo?

So if anyone knows step by step what happens I’d like to know. Nothing complex or detailed necessarily, just kind of like an outlinfe

Step 1) Can’t pay bank
Step 2) Tell bank they have no hope of getting their money

What follows till the time the sheriff shows up and puts your belongings out on the street :slight_smile:

Let’s assume for my question it’s going to be a foreclosure, not an example where the bank would go to great lengths not to sieze the house

I imagine it may vary from type of mortage to type of mortage?

Thanks