How do you define pre-foreclosure?

Answer Pre-foreclosure is a real estate term used to described a process available to homeowners after they default on their mortgage loan.DefinitionA pre-foreclosure home is a home designated by the bank... Read More »

Top Q&A For: How do you define pre-foreclosure

Define Bank Foreclosure?

When a homeowner defaults on his mortgage, the lender has the right to legally foreclose on a home. The legal definition of a foreclosure can be complex. Essentially, a foreclosure is a repossessio... Read More »

How to Negotiate the Best Offer on a Foreclosure or Pre Foreclosure?

Just because you’re not an expert doesn’t mean you should be too intimidated to make an offer on a foreclosure. You don’t have to start with offering more than you ideally want to pay because... Read More »

How to Avoid Foreclosure When Already in Foreclosure?

Avoiding a foreclosure after a lender begins the process isn't impossible. Foreclosures are costly to mortgage lenders. For this reason, lenders are generally eager to work out an agreement with bo... Read More »

What does pre-foreclosure mean?

Pre-foreclosure occurs after a notice of intent to accelerate or a letter of default is sent to a homeowner. If you receive a letter regarding pre-foreclosure, your lender will give you options to ... Read More »