Jan
13
A foreclosure is a situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif "What is a Foreclosure?"){kind=small}
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