It's when a homeowner is unable to make principal and/or interest payments on their mortgage. The lender, a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
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Company NMLS: 235599
Real Estate Broker – CA Dept of Real Estate – Lic #01851459 – NMLS #235599
113 Presley Way Ste 6 Grass Valley, California 95945 Phone: (530) 271-5500 firstname.lastname@example.org
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