Lenders looking at delinquency as Foreclosure

[Dan Mackin]

I started my approach to a neighbor of mine who got their NED about a month and a half ago.  I left them a letter stating the situation and some ways to get out of the situation.  In preparation for a potential call I wanted to clear something up.  In talking to a few lenders in the area it seems that many of them look at a delinquency on payments that is long enough to cause an NED to be the same as a foreclosure in lending terms.  I had my mortgage broker check with a few of his lenders too and is getting similar answers.  Does this sound correct for other's experiences?  I don't want to be giving out false knowledge about getting back on track and possible refinancing if it isn't true.