Foreclose Sentence Examples
Both the owner and bank have the ability to foreclose if you do not pay as agreed.
The Panel said that the toolkit did not foreclose options.
First, her wardrobe designer claimed that her check from Braxton bounced, now her bank is looking to foreclose on her house because Braxton has failed to make over $12,000 in mortgage payments.
For some people that lose their jobs, having their mortgage lender foreclose on their homes is a real possibility.
Lender Obligations - No lender wants to foreclose on a home, but financial institutions do have investors and stockholders who want to make profits.Advertisement
This means that - in a worst case scenario - the lender can foreclose on the property and take possession of the home if the individual who takes out the mortgage does not repay the funds in a satisfactory manner.
The bank must follow appropriate legal steps in order to foreclose on a home.
While the exact requirements and rules vary by state, typically after they make the demand for payment the bank will send an official Notice of Intent to Foreclose to the delinquent homeowner.
In some cases, the bank must also publish legal notice of intent to foreclose in the local newspaper.
After the homeowner receives notice of intent to foreclose, there is a notice and waiting period designed to give the homeowner time to negotiate with the bank, or to prepare evidence for a court hearing.Advertisement
As with other grants and special mortgages, FHA loans may cost less, have much lower down payments, qualifying is much easier, and special help is available if finances become difficult and one feels the need to foreclose.
The owner who is financing the purchase has the same right to foreclose on you as the bank would if you don't pay.
Should you default; the lender can foreclose on your home.
Descartes was an expert; Bacon was the prophet of a great, if half comprehended, future; and the science they loved was struggling for its infant life against a mass of traditional prejudices, which sought to foreclose every question by confident assertions about the purposes of God and Nature.