Q: What does it mean to be in foreclosure? – A: According to dictionary.com, to foreclose is to deprive (you) the mortgagor of the right to redeem mortgaged property, when payments have not been made. When you have missed two months worth of payments you have defaulted on your loan, but you are not yet in foreclosure. The foreclosure proceedings will not initiate until the mortgage lender or bank submits paper work to a prosecuting attorney.
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Manchester New Hampshire foreclosure
Question: What is foreclosure? – Foreclosure is a legal process in which the rights to a property is taken away from the owner and the property is then sold to satisfy unpaid mortgages and liens against the property.