Foreclosure occurs when a lender takes possession of a property due to the homeowner’s failure to make mortgage payments. Understanding the foreclosure process can help homeowners take proactive steps to avoid losing their homes. Options such as loan modification, short sales, and bankruptcy can provide relief. It’s essential to seek professional advice if you’re facing foreclosure to explore all available options.

Published On: September 10, 2024Categories: Bankruptcy and Debt, Foreclosures
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