1. What is a
Foreclosure?
By South Florida Investment
Properties
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2. Foreclosure Defined
A foreclosure is the procedure involving
the collection of a mortgaged property
due to failure to make mortgage
payments.
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3. The Process
 Thislegal process consists of an attempt of
the lender to recover the
remaining amount of a borrowed loan in
which the borrower has ceased to make
payments to the lender.
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4. Residential Mortgage Loan
 In a foreclosure involving a residential
mortgage loan, the lender is typically a
bank or other financial institution.
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5. Those at Risk for Foreclosure
 Who is at risk for foreclosure? Essentially
everyone could fall into risk of a foreclosure.
 Financialsituations can change quickly and
without notice. Those who haven't missed
payments could easily become those at risk.
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6. How to Avoid Foreclosure
 There are many ways to avoid risk of
foreclosure.
 One of the easiest ways to prevent
foreclosure is to keep track of your
mortgage payments and do not ignore
letters of warning from your lender.
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7. Do Not Be Afraid
 Do not be afraid to work with your lender and
ask about the options available to help you pay
your mortgage payments.
 You may choose to hire a professional to help
you with your financial and legal needs. Various
government programs have also been created
to help those at risk of foreclosure.
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8. What to do When Faced with
Foreclosure
 An attorney with experience and
knowledge of foreclosures can help
ensure the foreclosure process will be less
foreboding than it has to be.
 Makenecessary preparations and
communicate honestly with your creditor.
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9. The End
A foreclosure does not have to be the end of
your financial well-being; a professional can help
you decide what foreclosure options are best for
you.
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