understanding foreclosures: Understanding Foreclosures - 04/03/08 03:44 AM
Q. How does a home go into foreclosure?
A. Foreclosure proceedings usually begin after a borrower has skipped three mortgage payments. The lender will record a notice of default against the property. Unless the debt is satisfied, the lender will foreclose on the mortgage and proceed to set up a trustee sale.
Q. Are foreclosures an option?
A. A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage. Thousands of homes end up in foreclosure every year. Economic conditions affect the number of foreclosures, too. Many people lose their homes due to job … (3 comments)

Traci Amick (Keller Williams Realty Coastal Area Partners)

Traci Amick

Savannah, GA

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Keller Williams Realty Coastal Area Partners

Address: 329 Commercial Drive Suite 100, Savannah, GA, 31406

Office: (912) 356-5001

Mobile: (912) 631-0220

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