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I got a call this morning (while standing looking at my leasing agent lady's bosom) and it was from my mother's mortgage collection dept.
Long story short:
A. She is 120 days delinquent.
B. He saw 4 options:
1. She pay all payments to current. (best)
2. Some partial payment to fend him off.
3. She sell house to try to get best price and pay off him.
4. He forecloses and takes whatever quick sell occurs.
My question: :" Anyone know how foreclosure works".
Does the mortgage company toss the occupant?
Do they just advertize it as forclosed for sell?
Is the amount they can sell for governed by any rusles.
Any help is appreciated.
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