
When the economy is brutal, foreclosures become more common. So do homeowners’ questions about them.
It’s hard to make any blanket statements about dealing with the process, as it varies so much from state to state — and even from county to county. That said, foreclosures can occur when a home loan becomes just too much of a financial burden, and the owner simply cannot or will not make the payments any more.
Foreclosure is a term that dates back to the 1200s. It’s from the early French word forclos, meaning to exclude, shut out, or drive away. In today’s legal terminology, it means taking over a home that’s collateral for a mortgage. Given that a lender can evict a borrower, the meaning hasn’t changed all that much in 800 years!
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