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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.
CA-DBO: License/Registration #: 603L028 | CA-BRE: License #: 01886366 | NMLS ID #: 349874
*We are currently licensed to Originate Loans in the States of California, Colorado and Texas Only."
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