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.
I am your best local mortgage lender for Conventional, FHA, VA, and hard money loans in California & Texas, located in Bakersfield, CA. Get fast customized rate quotes, competitive interest rates, & friendly service with integrity. I make the process of getting a mortgage quick and hassle free! I shop lenders FOR YOU!
Barrett Financial Group, L.L.C. | NMLS #181106 | 275 E Rivulon Blvd, Suite 200, Gilbert, AZ 85297 | CA 60DBO-46052 & 41DBO-148702 Licensed by Dept. of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financing Law License | TX view complaint policy at www.barrettfinancial.com/texas-complaint | Equal Housing Opportunity | This is not a commitment to lend. All loans are subject to credit approval.