Foreclosure Definition Of Foreclosure By The Free

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Posted on October 29, 2018 at 19:49 PM

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What Is Foreclosure? - Foreclosure Center
Foreclosure is what happens when a homeowner fails to pay the mortgage. More specifically, it’s a legal process by which the owner forfeits all rights to the property. If the owner can’t pay off the outstanding debt, or sell the property via short sale, the property then goes to a foreclosure auction.
What Are the Types of Foreclosure? - Foreclosure Center
Judicial foreclosure. The lender seeks to foreclose by filing a civil lawsuit against the borrower and serving the borrower with a formal summons and foreclosure complaint. The foreclosure process is handled through the local court system. The court appoints a referee to conduct the foreclosure auction on the courthouse steps.
Foreclosure - Wikipedia
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.. Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court ...

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