Most Foreclosures Take Much Longer

In his March 24 “Real Estate Q&A;” item headlined “How Long Must Lender Wait Until Foreclosing?” Robert Bruss writes that “most banks and S&Ls; now wait only 30 to 45 days before beginning foreclosure.”

In the current market, most financial institutions do not commence a foreclosure action until a borrower is at least two or more payments delinquent. Several enter into payment plans for those several months delinquent where the borrower has shown a good-faith effort to avoid foreclosure.

ROBERT A. GALIN

Dana Point

The writer is an attorney and real estate broker.