Title: What Happens When a House Goes Into Foreclosure?
Headings: What Happens When a House Goes Into Foreclosure?
What Happens When a House Goes Into Foreclosure?
What Exactly is a Foreclosure?
Why Do Sellers Go Into Foreclosure
1. Missed Payments
2. Public Notice
3. Pre-Foreclosure
4. Auction
5. Post-Foreclosure
What Happens When a House Goes into Foreclosure
About the author
fritzie

Content: If the homeowner fails to come up the with the necessary cash to re-purchase the home, the home is sold to the highest cash bidder. 5. Post-Foreclosure
Sometimes foreclosed homes are auctioned for sale but with no success. In this event, if the home remains unpurchased, the lender (usually the bank) will take ownership of the property. The home, then, becomes a bank-owned property. What Happens When a House Goes into Foreclosure
If you find yourself wondering what happens when a house goes into foreclosure, the odds are you may have missed a few mortgage payments. If you’re worried your home might go into foreclosure, be sure to consider the many options outlined above. And, remember, failed mortgage payments don’t always have to result in irreversible damage. Knowing the facts is the best way to avoid or prepare for a potential foreclosure. Alternatively, if you are considering purchasing a foreclosed home, be sure to acquaint yourself with the facts and how this process works.