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2. Preforeclosure: What it is and how it works - AOL

   www.aol.com/finance/preforeclosure-works...

   Preforeclosure is the first step in the foreclosure process, and it usually begins when a homeowner is 90 days past due on their mortgage. When you’ve missed three mortgage payments, the loan ...

3. What is a foreclosure? How it works and how to avoid it - AOL

   www.aol.com/finance/foreclosure-works-avoid...

   A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...

4. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1][2] Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower ...

5. What is the right of redemption? How it works during foreclosure

   www.aol.com/finance/redemption-works-during...

   If you’re facing foreclosure, the right of redemption gives you a legal pathway to keep or regain your home, by paying back the entire outstanding loan, plus interest and fees. The right of ...

6. Deed in lieu of foreclosure - Wikipedia

   en.wikipedia.org/wiki/Deed_in_lieu_of_foreclosure

   Deed in lieu of foreclosure. A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower ...

7. Subprime mortgage crisis - Wikipedia

   en.wikipedia.org/wiki/Subprime_mortgage_crisis

   He concluded that the extent of equity in the home was the key factor in foreclosure, rather than the type of loan, credit worthiness of the borrower, or ability to pay. [77] Increasing foreclosure rates increases the inventory of houses offered for sale. The number of new homes sold in 2007 was 26.4% less than in the preceding year.