Process
The process of foreclosure can be rapid or lengthy and varies from state to state. Other options such as refinancing, a short sale, alternate financing, temporary arrangements with the lender, or even bankruptcy may present homeowners with ways to avoid foreclosure. Websites which can connect individual borrowers and homeowners to lenders are increasingly offered as mechanisms to bypass traditional lenders while meeting payment obligations for mortgage providers. Although there are slight differences between the states, the foreclosure process generally follows a timeline beginning with initial missed payments, moving to a sale being scheduled and finally a redemption period (if available).
Read more about this topic: Foreclosure
Famous quotes containing the word process:
“Interior design is a travesty of the architectural process and a frightening condemnation of the credulity, helplessness and gullibility of the most formidable consumers—the rich.”
—Stephen Bayley (b. 1951)
“Experiences in order to be educative must lead out into an expanding world of subject matter, a subject matter of facts or information and of ideas. This condition is satisfied only as the educator views teaching and learning as a continuous process of reconstruction of experience.”
—John Dewey (1859–1952)
“A process of genocide is being carried out before the eyes of the world.”
—Pope John Paul II (b. 1920)