Property Q&A in Northridge>Question Details

Luis Huete, Home Owner in Upland, CA

what does pre-forclosure means?

Asked by Luis Huete, Upland, CA Wed Sep 19, 2012

--
This question is about this property: http://www.trulia.com/foreclosure/3076213771--Granada-Cir-No…

Help the community by answering this question:

Answers

1
The status of a property which is in the early stages of being repossessed due to the property owner's inability to pay an outstanding mortgage obligation. Reaching pre-foreclosure status begins when the lender files a default notice on the property, which informs the property owner that the lender will proceed with pursuing legal action if the debt is not taken care of. At this point, the property owner has the opportunity to pay off the outstanding debt or sell the property before it is foreclosed.
0 votes Thank Flag Link Wed Sep 19, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer