A foreclosure, we know, is the process by which a lender takes legal possession of an asset from a borrower in default. This is simple enough to understand, however the mechanism to achieve a foreclosure judgment against a borrower in default is complex, involving lengthy paperwork, sometimes aggressive and despondent, many absurdly offensive to the borrower, most of the times carried out by insensitive attorneys that do not necessarily care about the state of mind of the party in default, who in most cases in good faith contracted a loan and paid his installments religiously for years, only to face the sad reality that his property is trickling water and worth less than half of what he paid for.
More here:Pitfalls in Distressed Real Estate Sales Opportunities
