01/20/2023
What is a foreclosure in simple words?
Foreclosure is a process that begins when a borrower fails to make their mortgage payments. When a home is foreclosed upon, the lender typically repossesses and attempts to sell the house. This happens because mortgage loans are secured by real estate, meaning your home is used as collateral. Foreclosure is simply the legal process a creditor uses to take back ownership of a house if a borrower defaults on a loan.
Speak to a foreclosure prevention specialist now. get a home evaluation for free so you know where you stand in this process and know your rights as a homeowner
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