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Orlando Real Estate
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RE/MAX Central Realty
3 Orlando Area Locations

Phone: 407.721.5225

Foreclosures for sale - Avoiding Foreclosure

Foreclosure Properties
RealtyTrac

Foreclosure Properties For Sale:
Orange County | Seminole County | HUD Foreclosures for sale | VA Foreclosures

Stop Foreclosure!
Avoid - Stop Foreclosure! | Short Sales | Preforeclosure Sales

About Foreclosures - What is a foreclosure?
A Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when the borrower/owner defaults on the mortgage payments and the lender files a public default notice. The foreclosure process can end one of four ways:

  • The borrower/owner pays off the default amount to reinstate the loan during a grace period known as pre-foreclosure.
  • The borrower/owner sells the property to a third party during pre-foreclosure, allowing the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.
  • A third party buys the property at a public auction at the end of the foreclosure period.
  • The lender takes ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction.

Stop Foreclosure!
Stop Foreclosure!

 

 

Fore more information on foreclosures in Orlando and the surrounding Central Florida area, see below.

Avoid - Stop Your Foreclosure | Pre-Foreclosure Sales | Short Sales | Foreclosure Resources
Greater Orlando real estate information | Orlando MLS

 

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