What is Foreclosure? | REAL-ESTATE-SALESPERSON Exam Prep

Foreclosure is the legal process by which a lender takes ownership of a property when the borrower fails to make mortgage payments, typically after several months of default. 📚 Learn more about Foreclosure and other key terms for your REAL-ESTATE-SALESPERSON exam at Open Exam Prep. 🎯 This term appears on: REAL-ESTATE-SALESPERSON 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Foreclosure definition: https://www.open-exam-prep.com/glossary/foreclosure 💡 Exam Tip: Judicial foreclosure = through courts. Non-judicial = faster, uses power of sale clause. --- #real-estate #examprep #financeexam #real-estate-salesperson