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2. What is a foreclosure? How it works and how to avoid it - AOL

   www.aol.com/finance/foreclosure-works-avoid...

   The types of foreclosures include: Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make ...

3. Thousands Of U.S. Homes Foreclosed In April As Market ... - AOL

   www.aol.com/thousands-u-homes-foreclosed-april...

   According to foreclosure data tracked by ATTOM, Illinois led the states. April saw a surge in home foreclosures, with thousands of properties repossessed nationwide.Last month saw an 8% increase ...

4. What is the right of redemption? How it works during foreclosure

   www.aol.com/finance/redemption-works-during...

   If you’re facing foreclosure, the right of redemption gives you a legal pathway to keep or regain your home, by paying back the entire outstanding loan, plus interest and fees. The right of ...

5. Foreclosure - Wikipedia

   en.wikipedia.org/wiki/Foreclosure

   Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1][2] Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower ...

6. Real estate owned - Wikipedia

   en.wikipedia.org/wiki/Real_estate_owned

   Real estate owned. Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender —typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1] A foreclosing beneficiary will typically set the opening bid at such an auction for at ...

7. Subprime mortgage crisis - Wikipedia

   en.wikipedia.org/wiki/Subprime_mortgage_crisis

   Foreclosures are concentrated in particular states both in terms of the number and rate of foreclosure filings. [126] Ten states accounted for 74% of the foreclosure filings during 2008; the top two (California and Florida) represented 41%. Nine states were above the national foreclosure rate average of 1.84% of households. [127]