What is "foreclosure"?

What is "foreclosure"?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: What happens if I cannot pay my mortgage?; Do I have a grace period to pay my mortgage loan? and more...

Foreclosure is where the bank is going to come in and take over your home. They're not in the business to do so and they give you a lot of opportunities to help you get out of the default situation that you're currently in.