Pre-Foreclosure vs Foreclosure: What’s the Real Difference?
Pre-foreclosure is the early stage after missed mortgage payments, where the homeowner still has time to take action—like reinstating the loan, modifying it, or selling the property. Foreclosure is the final stage when the lender repossesses the home and sells it, usually through a public auction. At that point, the homeowner loses ownership, and the impact … Continued