Foreclosure is a situation in which a homeowner is unable to make full principal and interest obligations on his/her mortgage, which allows the lender to seize the property, evict the homeowner and sell the home, as specified in the mortgage agreement. One month after the homeowner misses a home loan payment, he/she is in default and will be notified by the lender. Three to six weeks after the homeowner yearns for a mortgage payment, presuming the mortgage is still delinquent, and the house owner has not comprised the missed payments in just a specific grace period, the lender will get started to foreclose. Typically the farther behind the borrower falls, the more difficult it becomes to catch up since lenders add fees for payments that are 10-15 days past due. Each state has its own foreclosure laws in the notices the lender must post publicly and/or with the homeowner, the homeowner's choices for bringing the loan current and avoiding foreclosure, and the procedure for marketing ...