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Resources - Foreclosure
- Bank Foreclosures
Foreclosure is a legal process that is initiated by the holder of a mortgage or lien when the borrower is in default. The delinquent property is sold at public auction to recover the lender's investment.
- Default Loan Action
Mortgages are created using trust deeds (TD), with the property as collateral for the loan. If the trustor defaults on the first TD, the second TD holder can reinstate the first Trust Deed and start default action against the trustor.
- Foreclosure Overview
This is a general overview of foreclosures. Each state has its own laws, rules and regulations regarding foreclosures. Please check with your local and state government agencies for more information. Do not substitute this information for professional or legal advice.
- Tax Foreclosures - Government Foreclosures
A tax foreclosure is a legal procedure used by government agencies to enforce a lien against a property for non-payment of income taxes or property taxes. Government agencies hold tax foreclosures one to four times a year.