What is Foreclosure?
Foreclosure is the legal process where a lender takes ownership of a home after the borrower fails to make payments. The property may then be sold to recover the loan balance.
How Foreclosure Works
When payments are missed, the lender issues notices before initiating foreclosure. If unresolved, the property is repossessed and sold through an auction or direct sale.
Benefits of Understanding Foreclosure
Borrowers who understand foreclosure can better avoid it by knowing their rights and options. Awareness helps protect financial health and homeownership.
Capstone for Mortgage Education and Mortgage Training Classes
Capstone Institute prepares loan officers to counsel clients about foreclosure risks. Our mortgage education emphasizes proactive guidance and informed decision-making.