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 were so lucky to have a smooth easy process from beginning to end. We had the best loan officer and coordinator possible. They were so helpful and always available to answer any questions. We closed in 20 days! I would recommend Cheerlending to anyone! " Linda L.