Foreclosures

The foreclosure process is generally described as the system by which a party who has loaned money secured by a lien, mortgage or deed of trust on real property (or has an unpaid judgment), requires the sale of the real property to recover the money due, unpaid interest, plus the costs of foreclosure.  Foreclosures most commonly involve mortgages, deeds of trust, agreements for deed and money judgments.  They can also occur when a homeowner has failed to timely pay community association assessments.