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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CA DRE 01190880 | NMLS# 356743 CDI #0G46592
1424 E. Broadway Ave., Suite A Long Beach, CA 90802(562) 437-5585 ext. 1800-986-9977 ext. 1 firstname.lastname@example.org
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