Real estate foreclosure is the process of repossessing a piece of real property such as a home.  It is a legal process used by the mortgage holder when the owner of the property is in arrears on the mortgage payments.

In strict foreclosure the mortgage holder takes title and possession of the real estate foreclosed in satisfaction of the mortgage loan.

Most states require a different type of real estate foreclosure process.  In a more common type of foreclosure instead of reverting to the ownership of the mortgage holder, the property is auctioned by the county sheriff or court officer.  Often the mortgage holder will place a bid at the amount of the remaining mortgage to insure that the property is not sold for an amount less than is still owed on the mortgage.  Should other bidders bid the price higher than the amount of the remaining loan, the party foreclosed upon receives the equity portion of the winning bid after foreclosure expenses.  This discourages the mortgage holder from forcing a real estate foreclosure for the purpose of grabbing an owner's equity.

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Real Estate Foreclosure News
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• A Mortgage Tornado Warning, Unheeded New York Times
USA TODAYA Mortgage Tornado Warning, UnheededNew York TimesYEARS before the housing bust before all those home loans turned sour and millions of Americans faced foreclosure a wealthy businessman in Florida set out to blow the whistle on the mortgage game. His name is Nye Lavalle, and he first came to Who39s the Big Bad Wolf Now on Foreclosure Fraud and AbuseEconomic PopulistWhy foreclosure investors are double edged sword for economyUSA TODAYGTE CEO Faults Fannie on ForeclosureCredit Union TimesWashington Postall 34 news articles raquo
• Foreclosure To Rentals Worcester Business Journal
Foreclosure To RentalsWorcester Business JournalBy Matt Pilon What if Fannie Mae and Freddie Mac sold, in bulk, the more than 1100 foreclosed Massachusetts properties they own to investors who promised to convert them to rental housing The Federal Reserve recently called on Congress to approve of and more raquo
• Foreclosure Settlement Will Settle Nothing TheStreet.com
USA TODAYForeclosure Settlement Will Settle NothingTheStreet.comBy Shanthi Bharatwaj 02/04/12 06:54 AM EST NEW YORK TheStreet A foreclosure settlement between the banks and the 50 states Monday, if it does finally happen, will likely not have the positive outcomes that investors have been hoping for.New York Sues 3 Big Banks Over Mortgage DatabaseNew York TimesForeclosure Deal With Banks Said to Ensure Same Terms for All 50 StatesBloombergNY39s Schneiderman sues banks in foreclosure effortWall Street JournalWashington Postall 358 news articles raquo
• Renting Out Foreclosures Atlanta Journal Constitution
Renting out foreclosuresAtlanta Journal ConstitutionShe was a first time homeowner who was able to buy because the property was a foreclosure that was significantly discounted. Atlanta39s nearly 4600 government owned foreclosed properties is No. 1 in the nation, far outnumbering those in Phoenix,
• Foreclosure Rate As High As Ever Helena Independent Record
Foreclosure rate as high as everHelena Independent RecordThis story is the first part of a two part series on foreclosures in the Helena area. Coming Monday: Options available for homeowners facing default or foreclosure. Even as the Helena economy slowly grows, the local home foreclosure rate is as high as