What Is Forclosure Like?

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Answer #1: Posted by pkmnambiar on August 30th, 2010 8:26 PM

pkmnambiar

Member since:
August 29th, 2010

Points: 5,940

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It is foreclosure, not forclosure.

It is a legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.

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