What happens in a foreclosure?

Answer When a homeowner defaults on her mortgage, the lender can take possession of the home through the foreclosure process. The length of the process, and the ability of the former homeowner to save her... Read More »

Top Q&A For: What happens in a foreclosure

What happens to you in foreclosure?

Fees for not paying a mortgage start adding up as early as 16 days after being late on a payment. As time progresses, the foreclosure process advances with phone calls from the lender, notices, col... Read More »

What happens to liens in a foreclosure?

Foreclosure satisfies some liens on a home, while other liens can remain unpaid. You are still legally responsible for paying any unpaid liens even if you lost your property to foreclosure.Primary ... Read More »

What happens to heloc in a foreclosure?

When the housing slump hit in 2008-2009, it affected people from all economic backgrounds. But as heartbreaking as losing a house can be, those who had a HELOC (Home Equity Line of Credit) loan had... Read More »

What happens to the house in a foreclosure?

It is important that a homeowner make regular mortgage payments to his lender. If he fails to do so, the lender has the legal right to seize his home through foreclosure.FactsWhen an individual fin... Read More »