Sentence Examples

  • This means that - in a worst case scenario - the lender can foreclose on the property and take possession of the home if the individual who takes out the mortgage does not repay the funds in a satisfactory manner.
  • With current economic issues, banks and lenders who do foreclose often can't make the money back from the original loan due to housing costs, which are down.
  • Lender Obligations - No lender wants to foreclose on a home, but financial institutions do have investors and stockholders who want to make profits.
  • After the homeowner receives notice of intent to foreclose, there is a notice and waiting period designed to give the homeowner time to negotiate with the bank, or to prepare evidence for a court hearing.
  • While lenders do have the right to foreclose on homes if borrowers fail to make payments per the terms of the original agreement, in some cases a loan modification program might be a viable option.