Foreclosure 101
With mortgage foreclosures in the news constantly these days, it makes sense to do a little research on what foreclosure is and how it works.
When a homeowner falls behind on his payments, his loan goes into “default.”
What happens next depends on several factors, including the policies of the mortgage lender, the laws of the property state, and the terms of the mortgage itself.
Last modified March 18, 2008Author 2224 > has blogged 33 times
