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Understanding the Foreclosure Process Hampton Roads VA

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Foreclosure is the legal process by which a lender takes possession of a property from a borrower who has defaulted on their mortgage payments. The foreclosure process can vary by state, but typically involves several steps, including notice of default, demand for payment, and sale of the property at auction. Homeowners may have the opportunity to stop the foreclosure process by making up missed payments or negotiating a loan modification with their lender. However, if these options are not available, the foreclosure process will proceed, and the homeowner may be forced to vacate the property. It's important to consult with a qualified foreclosure attorney if you are facing foreclosure to understand your rights and options.
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Understanding the Foreclosure Process Hampton Roads VA