What is a Foreclosure?
You've heard the word, but what exactly is a foreclosure? Simply, it's when a homeowner’s rights to a property are forfeited because of failure to pay the mortgage.
What Are the Types of Foreclosure?
There are two main types of foreclosure: judicial and non-judicial foreclosures. Judicial is handled through the local court system and non-judicial is handled by a trustee.
Foreclosure Glossary: Know the Lingo
When dealing with foreclosures, the language can be complex and confusing. Use our foreclosure glossary to navigate the tricky waters of pre-foreclosure, foreclosures and bank-owned properties.