What Causes a Foreclosure?
- TOCR Real Estate School
- Apr 26, 2022
- 1 min read
Foreclosure is the legal process by which a lender tries to recoup the amount owed on a defaulted loan by seizing and selling the mortgaged property. Default is typically caused when a borrower fails to make a certain amount of monthly payments, but it can also occur when the borrower fails to meet other requirements in the mortgage document.
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