Foreclosure and Two Ways to Avoid Going Through It
Foreclosure means that a borrower can not make the required principal and/or interest payments on a loan secured by an interest in property. Because of the borrower’s default, the lender has a right to terminate the borrower’s interest in the property. The procedures vary from state to state, but the end result is that the lender either can take ownership of the property or sell it and the borrower’s equitable or statutory right to redeem the property is barred forever. Approximately 95% of
Original post by Summit Chatham Madison Morristown NJ Real Estate Blog, Web Savvy NJ REALTOR