What is a cure period?
A cure period is the window of time in which a borrower can make up missed mortgage payments and halt a foreclosure before it proceeds to sale or judgment.
The cure period is the timeframe a borrower has to pay all overdue mortgage payments, including late fees and legal costs, and reinstate the loan after default. This window typically begins once a lender issues a notice of default and continues until the foreclosure sale is scheduled or, in judicial foreclosure states, until a judgment is entered. The length of the cure period varies by state law and loan agreement terms, ranging from 30 to 120 days or more depending on jurisdiction.
The cure period matters because it provides borrowers a final opportunity to stop foreclosure without losing the property. During this time, a borrower can contact the lender, negotiate a payment plan, or seek assistance through loan modification, forbearance, or refinancing. Once the cure period expires and the lender forecloses, the borrower's right to reclaim the property is typically eliminated, though some states allow a redemption period afterward.
Understanding your state's cure period rules is critical when facing default. Timing determines what options remain and how urgently a borrower needs to act. Borrowers who miss this window often find their only recourse is to work with a foreclosure defense attorney to explore remedies like loan modification or fighting procedural defects in the foreclosure itself.