Everyone is worried about foreclosure but what exactly is it? It is a process that kicks in when a homeowner is unable to make his or her mortgage payments over a period of time, usually more than 3 months. Having said this, the foreclosure process does vary from lender to lender, with some starting as early as 2 months from the first date of missed payment to the lenders.
There has been perceptions that banks are too eager to foreclose on homes but this...
Read more