4 Things You Must Know About Home Foreclosures

Home foreclosures refer to a legal process where a court orders your mortgage lender to sell your home to recover the mortgage debts due on that home. It is very important for you to keep in mind that your lender has the right to take your property back and sell it to recover the debt even if you have missed just one payment. However, in general, it typically happens when you have missed at least three or four payments. Following are some of the major aspects associated with the procedure that you must know about, such as what can happen and what options are available to you.