Property foreclosure is a situation in which a homeowner is unable to make full principal and interest repayments on his/her mortgage, which allows the lender to seize the property, evict the homeowner and sell the home, as agreed 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 misses a mortgage payment, supposing the mortgage is still delinquent, and the home owner has not comprised the missed payments inside a specific grace period, the financial institution will start to foreclose. The particular farther behind the borrower falls, the more difficult it becomes to capture up since lenders add fees for payments that are 10-15 days past due. Each state has their own foreclosure laws covering the notices the lender must post publicly and/or with the homeowner, the homeowner's selections for bringing the loan current and avoiding property foreclosure, a...