Foreclosures Overview
How Do Foreclosures Work?
Wednesday, June 11th, 2008What is Foreclosure?
Foreclosure is the legal process in which a homeowner’s property is taken by a mortgage company, bank, or other creditor to satisfy a debt. It results from non-payment of the mortgage and/or property taxes. The homeowner loses the rights they had to the property. Read more
Types of Real Estate Foreclosure Properties
Wednesday, June 11th, 2008What’s the Difference?
Foreclosure properties are typically named after their stage or ownership. Each type of property has it’s own characteristics and requirements for purchase. When searching for foreclosures, it’s important to understand where the property is in the foreclosure process and/or who is the current owner of the property so you will know how to proceed. Read more
State Foreclosure Laws
Wednesday, June 11th, 2008Get the Facts About Your State’s Foreclosure Process
The mortgage holder can usually initiate foreclosure at a time specified in the mortgage documents, typically some period of time after a default condition occurs. Two main types of foreclosures exist: judicial and non-judicial, or power of sale. Read more