It's when a homeowner is unable to make principal and/or interest payments on their mortgage. The lender, a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
Phone: 847-674-3113 Fax: 847-674-3764
6825 N Lincoln Avenue, Lincolnwood IL 60712
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NMLS #227278 and Illinois Residential Mortgage Licensee #MB6760662 issued by www.IDFPR.com 312-793-3000
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