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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: 181106 www.nmlsconsumeraccess.org
Barrett Financial Group, L.L.C.2168 E. Williams Field Rd., Suite 245Gilbert, AZ 85295
(480) 459-4500 | Fax (800) email@example.comNMLS #181106AZ MB - 0904774Loans made or arranged pursuant to Finance Lenders Law License CA 60DBO 46052Equal Housing Lender.
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