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.
Real Estate Broker-CA Dept of Real Estate
DRE # 01342072
Address:5655 Lindero Canyon Road #626Westlake Village, CA 91362-4030
Phone: (424) 325-6133
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