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.
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Company NMLS: NMLS# 1329867 www.nmlsconsumeraccess.orgFormerly Known As Nationwide Federal Home Loans, Inc.
8400 E. Prentice Ave. Suite 1500 Greenwood Village, CO 80111 Phone: 303-558-1500 firstname.lastname@example.org
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