What is foreclosure:

It is the way banks take your house from you to pay your mortgage when you stop paying it.

How does it happen?

In New Jersey it begins with a certified letter that says Notice of Intent to foreclose. That is when you turn over the hour glass and the sand starts running out. And no it doesn't matter if you sign for it or not. Once the bank sends it the clock starts ticking.

So how much time?

At least three months from there.

"Advice is like snow; the softer it falls, the longer it dwells upon, and the deeper it sinks into the mind."
-Samuel Taylor Coleridge