Going through the process of Foreclosure

Foreclosure in the simplest terms may be defined as the process under which a lender decides to end partnership with the borrower following a breach by the latter. A breach happens when the borrower fails to make payments as stipulated in the terms of mortgage contract. Foreclosure involves the sale of the property that had […]

Definition of Foreclosure

Foreclosure is the process by which a lender of a mortgage, hereafter referred as the mortgagee secures the legal authority by either a court injunction or law operation to end the rights of a borrower, hereafter referred as the mortgagor with regard to a mortgage loan. Under normal circumstances, the mortgagee obtains interest of guarantee […]