Glossary
Foreclosure
The legal process by which a lender takes a house after default. A defined process with stages, notices, and options, not a sudden event.
Foreclosure takes months, not days, and has required notice periods and loss-mitigation windows built into the process. Most homeowners who feel they have no time are being pressured on the money clock while a buyer implies the legal clock is nearly out. Understanding the real timeline is one of the most calming things you can do.
Read more in the Field Guide:
- Understanding the Foreclosure Timeline, Foreclosure
- Foreclosure Options: What's Actually Available, Foreclosure
Want a plain-language review of your situation?
A Residios Home Transition Review gives you clear options, including the ones no buyer will volunteer.