A Foreclosure is a situation in which a homeowner is unable to make full principal and interest payments on his/her mortgage , which allows the lender to seize the property, evict the homeowner and sell the home, as stipulated in the mortgage contract. One month after the homeowner misses a mortgage payment, he/she is in default and will be notified by the lender. Three to six months after the homeowner misses a mortgage payment , assuming the mortgage is still delinquent and the homeowner has not made up the missed payments within a specified grace period, the lender will begin to foreclose. The farther behind the borrower falls, the more difficult it becomes to catch up, since lenders add fees for payments that are 10 to 15 days late.
A large row home in a convenient location. This is an excellent opportunity to add to a rental portfolio or for a convenient place to live. This large row features a fu...
Listing courtesy of Independence Real Estate Sales LLC.
Welcome to your next investment opportunity - Property is a shell - needs complete renovation. Property being sold in "AS-IS", "WHERE-IS" condition. No Sellers Disclosu...
Listing courtesy of American Destiny Real Estate-Philadelphia.
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