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Foreclosure
The process by which the holder of a mortgage sells a property after the debtor defaults on their loan for it
2,433 Questions
What was the purpose of the smith-connally act?
The Act allowed the federal government to seize and operate industries threatened by or under strikes that would interfere with war production,and prohibited unions from making contributions in federal elections
Which principle determines the amount initially entered into the records for purchases?
cost principle
How do you find foreclosed properties?
Some states and counties provide information about foreclosures online. Each state handles these sales differently and include mortgage foreclosures, tax lien sales, sheriff's sales, and tax deed sales. You can start with county government websites. The responsible county agencies, such as tax collector, treasurer, or sheriff will generally post their upcoming auction dates, bidding instructions, and property listings several months in advance. Most of the time this information is provided free, but there may be fees to obtain listings in some areas. You can also check newspapers in the public notices section, or you may also find listings posted at your county courthouse.
Auction.
foreclosure
Fore-closer is when you miss a year or more of mortgage payments in a row and the bank will send you papers. if you don't make a payment after the letters, you loose your home. (would not want that to happen to me)
