All You Need to Know About Foreclosure

Download or read book All You Need to Know About Foreclosure written by Ade Asefeso MCIPS MBA and published by AA Global Sourcing Ltd. This book was released on 2011-06-24 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreclosure happens when the bank or the lender sells or repossesses a property used in the mortgage loan, or a deed of trust, in which the owner fails to comply with his or agreement with the bank or lender. It is always important for the borrower to know the terms and conditions of the mortgage loan. Knowing information like interest rates, deadlines of payment, and other agreements and conditions between the lender and the borrower helps to avoid the risk of foreclosing the property to the lender.