FL REALTY GROUP — Real Estate Agents in Kissimmee, FL

<p>A foreclosure is the legal process where your mortgage company obtains ownership of your home (i.e., repossess the property). A foreclosure occurs when the homeowner has failed to make payments and has defaulted or violated the terms of their mortgage loan. A foreclosure can usually be avoided&mdash;even if you already received a foreclosure notice. See the chart (in &ldquo;Foreclosure Comparison&rdquo;) to compare some other options: Short Sale and Mortgage Release (Deed-in-Lieu of Foreclosure). No matter the option, you must take action as soon as you can.</p>