Business Finance Marketing Home

Make Money at Home!

Foreclosure Process

March 25th, 2008

A foreclosure process allows a lender or bank to recoup the amount that is owed to them on a delinquent loan by the process of selling or taking ownership (repossession) of the property that is securing the loan. The foreclosure process begins when a borrower or owner defaults on their loan payments and the lender files a default notice on public record, this is called a notice of default.





Comments are closed.