It's when a homeowner is unable to make principal and/or interest payments on their mortgage. The lender, a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
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Company NMLS: 1734614 www.nmlsconsumeraccess.org
100 N Main St., Suite L102 East Peoria, Illinois 61611 Phone: 309-408-0708 email@example.com
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