eHow launches Android app: Get the best of eHow on the go.
About Home Equity Loans & Bad Credit
About HUD Homes
About Loss Mitigation
About Rent-to-Own Homes
Do You Need an Appraisal to Sell a Timeshare?
First Time Home Buyer Checklist
How to Apply for a Housing Voucher
How to Apply for Housing Assistance
How to Get a First Time Home Buyers Grant
How to Get Federal Housing Grants
How to Make an Offer on a House
How to Refinance a Home
How to Sell a Home by Owner
How to Sell a Home Using an Auction
How to Sell a Timeshare Property
How to Sell Your House Quickly
How to Sell Your House Without a Realtor
What Do Home Appraisers Look For?
What Is a Home Abstract?
What Is a Short Sale in Real Estate Terms?
What Is Illegal House Flipping?
What Is Refinancing a Home?
What Is Spot Zoning?
What Is the Definition of Equities?
What Is the Foreclosure Process?
What Is the Definition of a Duplex?
Where to Find the History of Your Property
HUD properties are classified as distressed properties and may require restorative work to bring the prope… More
HUD, or the Department of Housing and Urban Development, does not provide direct loans, so there will stil… More
HUD is the acronym for the Department of Housing and Urban Development. HUD listings are the properties HU… More
The U.S. government has taken steps recently to stem the tide of home foreclosures, especially in the form… More
Mortgage companies are regulated by the federal government and through state policies. Find out how a stat… More
The government continues to pass legislation that makes it easier for homeowners across the United States … More
The government can assist in stopping foreclosure through programs in which the government offers assistan… More
Housing assistance is used for people who have low to moderately low income levels and are considered to b… More
Manufactured homes, also called mobile homes, are often confused with "factory built" or "modular" homes. … More
Voluntary foreclosure requires the agreement of a particular lender, which depends on the lender determini… More
A judicial foreclosure occurs when a court makes a judgment that a home will be foreclosed. The process of… More
Foreclosure is the process of a bank or lender taking back into possession a property that they secured a … More
Getting free help to stop the foreclosure process requires getting an attorney to buy some time and to set… More
The foreclosure process differs from state to state, but for the most part, each state sticks to the same … More
Loss mitigation can work to prevent your mortgage servicer and bank from foreclosing on your home and thus… More
Summary: Foreclosure is the process of a bank or lender taking back into possession a property that they secured a mortgage against, using the home as collateral. Consider working out a mitigation plan to prevent foreclosure with help from a mortgage specialist in this free video on foreclosure.
Stetson Lowe is a mortgage expert specializing in assistance with resolving complex mortgage problems and advising both Realtors and mortgage advisers.read more
How to Shave Armpits
How to Shave the Back & Shoulders
How to Shave the Chest
How to Shave the Groin Area
How to Shave Your Head
How to Prepare the Face for Shaving
How to Shave Your Face
How to Shave Tricky Areas on the Face
How to Shave a Chinstrap
How to Shave a Goatee
How to Maintain Sideburns
How to Shave a Soul Patch
How to Trim & Shape Facial Hair
How to Maintain a Razor
"Hi, my name is Stetson Lowe and in this clip we're going to be talking about the foreclosure process and what is it. Foreclosure is the process of the bank or a lender taking back possession of a property that they secured a mortgage against and lent the borrower money on to purchase the property, and their collateral was the home, itself. So if a borrower stops making payments in the deed of trust or mortgage, the lender or bank has certain rights to take that property back upon default. And, each state varies a little bit on how the process works, but the overall process is much the same. Typically, once a borrower has gone ninety days late on a mortgage payment, they will file what's called a notice of default with the county, and begin the foreclosure process. There's a period of procurement where the borrower has the right to bring the mortgage current, and catch up all his payments, or work out a suitable work-out plan with the lender, I guess. A mitigation plan on how the lender can keep that borrower in the home. If, during that time, the borrower does not work with the bank or has no way of bringing the mortgage current, then the lender will then schedule an auction date at which point the home will go up for auction on the county courthouse steps, and it will be sold to the highest bidder. The trustee for the bank will usually always show up to the auction and make sure that if the bidding is not going high enough to cover their mortgage or to get an acceptable point of loss for the lender, their trustee will submit bids until they hit that point, and they'll actually purchase the home back at auction, and take control of it and then fix it up, and put it back on the market and try to sell it to get more money back so they don't lose so much in the foreclosure process. So, that's foreclosure in a nutshell."
eHow Article: What Is the Foreclosure Process?
Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy. en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.
