The foreclosure process involves the regaining or repossessing of a bank or lender, the amount, which was owed to them by a delinquent borrower through the method of taking ownership or selling the property, which secures the loan. When a borrower fails to make payments on their loan, the bank or lender sends a default notice which will serve as a public record. This is where the process of foreclosure starts.
Originally posted here:Understanding How the Foreclosure Process Works
