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.
We love helping people with their home purchase and refinance needs. We look forward to answering all of your mortgage questions. Call us today at 207-899-5354, we are here for you.
Company NMLS: 926200
Blue Stripe Mortgage