Payment Default

6 Phases Of Home Foreclosure Process You Need To Know!

Posted by Wendy Poltorek // August 26, 2020 // Avoiding Foreclosure / Blog / Cleveland / Featured / Selling Your House Fast // Eviction / home foreclosure phases / Notice of Default (NOD) / Notice of Trustee’s Sale / Payment Default / Real Estate Owned (REO) / Trustee’s Sale

home foreclosure phases

The home foreclosure process allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property. While there is variation from state to state, there are normally six phases of a foreclosure procedure. Phase 1: Payment Default A payment default occurs when a borrower has missed at […]

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