In Florida, when a homeowner misses payments, a lender charges a late fee, warns the borrower, sends a breach letter and then files a lawsuit for foreclosure in state court, as Nolo explains. If homeowners don't provide ... More » Business & Finance Credit & Lending

Due to the fact that New Jersey is a judicial foreclosure state, a lender must go through a court to repossess a home after the mortgage is considered in default, which typically consists of three or more months of misse... More » Business & Finance Credit & Lending

The home foreclosure process begins with missed mortgage payments and failure of the borrower to meet lender-specified alternative payment deadlines, according to the U.S. Department of Housing and Urban Development. If ... More » Business & Finance Real Estate
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