Foreclosure Filing

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Dictionary Says

Definition of 'Foreclosure Filing'

The initial legal process of selling a mortgaged property that is in default. When a borrower defaults in making mortgage payments or otherwise fails to fulfill the terms of the mortgage agreement, the lender can enforce its rights through the foreclosure process.

Foreclosure filings refer to the statutory procedural requirements followed by the lender and all involved parties, including any documentation and court hearings. The procedure depends on state laws.

Investopedia Says

Investopedia explains 'Foreclosure Filing'

There are two main types of foreclosure: judicial foreclosure, where the lender files a case known as a foreclosure filing to obtain an order requiring the borrower to vacate the property; and non-judicial foreclosure, where the lender's first step in the foreclosure filing is the notice of default (NOD).

The foreclosure process for each state is determined by detailed statutory requirements. The foreclosure filing may end with the auction sale of the property, where proceeds are given to the lender and other lien holders. At an absolute auction, the property is awarded to the highest bidder; in a lender confirmation auction, the bank must approve the bid.

Search results for

'Foreclosure Filing'

  • Fend Off Foreclosure - With Bankruptcy? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0110/Fend-Off-Foreclosure---With-Bankruptcy.aspx
    ... The major foreclosure-related benefit of filing for either form of bankruptcy is
    that the court will issue an "automatic stay." The automatic stay prevents all ...

  • 5 Ways To Avoid Foreclosure - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0911/5-Ways-To-Avoid-Foreclosure.aspx
    ... Bankruptcy It may seem that filing for bankruptcy protection to avoid or
    halt a foreclosure is an extreme move - and it is. However ...

  • How To Delay Foreclosure - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0112/How-To-Delay-Foreclosure.aspx
    ... (For related reading, see Saving Your Home From Foreclosure.) Taking Your Time Filing
    Paperwork If you're willing to play the waiting game, you can also slow ...

  • The Pros And Cons Of Buying Distressed Property - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/The-Pros-And-Cons-Of-Buying-Distressed-Property.aspx
    ... The firm adds that one in every 579 US housing units held a foreclosure filing during
    the quarter. That scenario may not be getting better soon. ...

  • Can You Dispute A Foreclosure? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1010/Can-You-Dispute-A-Foreclosure.aspx
    ... Bankruptcy Filing for bankruptcy may help you keep your home for at least a little
    while, since the foreclosure process is legally stopped with an "automatic ...

  • Saving Your Home From Foreclosure

    http://www.investopedia.com/articles/pf/07/avoid_foreclosure.asp
    ... (For more insight, see Consumer Credit Report: What's On It.) Bankruptcy Many people
    believe that filing for bankruptcy is a nice solution to foreclosure. ...

  • The Story Behind The Foreclosure Crisis - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1010/The-Story-Behind-The-Foreclosure-Crisis.aspx
    ... one of many "robo-signers" who was signing large amounts of foreclosure documents
    without ... The judge who presided over the case said, "Filing such a document ...

  • My mortgage payments are no longer affordable; is there anything ...

    http://www.investopedia.com/ask/answers/09/mortgage-payments-prevent-foreclosure.asp
    ... or delay a foreclosure. In a worst case scenario, you may have to consider options
    such as short-sale, selling the home, or maybe even filing for bankruptcy. ...

  • What You Need To Know About Bankruptcy

    http://www.investopedia.com/articles/pf/07/bankruptcy.asp
    ... However, the process of filing for bankruptcy is easier said than done. (To nip
    foreclosure in the bud, read Saving Your Home From Foreclosure and Are You ...

  • Facing Co-Op Bankruptcy

    http://www.investopedia.com/articles/mortgages-real-estate/09/facing-co-op-bankruptcy.asp
    ... This is often the fastest route towards filing bankruptcy for co-ops. ... management,
    and if the mortgage default is not resolved, the foreclosure process begins. ...

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