The foreclosure process simply outlines the stages of foreclosure from owning a piece of real estate to having it repossessed from a lender.
The process can be summarized in five stages that are relatively straight forward and consistent from state to state. Individual must realize and make up missed payments. Although during stage two this can still be done, but competition becomes keener and more “foreclosure buyers” are calling owners.
Stage two is when a notice of default is recorded and is available to the general public in general public in various periodicals and newspapers.
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