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: According to national statistics, 1 in every 1776 homes in the US results in a foreclosure. While foreclosures can present much difficulty to the homeowner, it doesn’t always have to be the end of the world. Fortunately, there are steps one can take to prevent a foreclosure from happening. If you’re wondering what happens when a house goes into foreclosure, you’re going to want to keep reading. What Exactly is a Foreclosure? A foreclosed home is a home that once belonged to the homeowner but may belong to the bank. The reason for the bank owning the home is because the homeowner simply stopped or was unable to continue making the necessary payments for the home. In these situations, the homeowner either vacates the home or voluntarily deeds the home to the bank. In this event, the homeowner forfeits all legal rights to the property. However, it’s important to consider in these situations that the home never technically belonged to the bank.