Foreclosure: The Basics

Foreclosure & Divorce

Answers to your questions about your home when you are facing divorce, including who is responsible for the mortgage and how to avoid foreclosure.

What Might Happen If You Move Out During a Foreclosure: Fast-Track Laws

In some states, if you move out your home during a foreclosure, the bank may expedite or “fast-track” the foreclosure.

Your Options After the Foreclosure Sale

Learn what you can do after the foreclosure sale, from staying in the home for a certain period of time to buying the home back.

What Is Strict Foreclosure?

A few states allow lenders to foreclose by court order, without holding a sale.

What to Expect Once You Decide to Let Your Foreclosure Proceed

If you decide not to fight the foreclosure of your home, you don't have to leave right away. Learn more.

How to Protect Your Home and Property During Foreclosure

Learn what to do if property preservation workers let themselves into your home and take your stuff or damage your belongings.

What's a Mortgage Servicer?

The servicer is the company that actually takes care of your mortgage account.

Should I Try to Keep My Home or Let Foreclosure Happen?

If you’re facing a foreclosure, realistically assess whether you should try to keep your home.

Your Rights in a Foreclosure

Find about your loss mitigation rights, what foreclosure notices you’ll receive, your right to challenge the foreclosure, and more.

What Is a Sheriff's Sale?

In a sheriff's sale, law enforcement sells off properties that are in the end stage of foreclosure.

Why Would a Lender Choose a Judicial Foreclosure Instead of a Nonjudicial Foreclosure?

In states that allow nonjudicial foreclosures, lenders sometimes, in some circumstances, decide to go through the courts instead. Find out why.

How Foreclosure Can Help You Save Money

Learn about your options once you decide to give up your property and how you might be able to save money during a foreclosure.

What's a Foreclosure Trustee?

A foreclosure “trustee” is the party who handles a nonjudicial foreclosure.

Federal Laws Protecting Homeowners: New and Existing Mortgages

Federal laws protect homeowners who have mortgages.

Typical Judicial Foreclosure: Example

Learn the basic steps in a typical judicial foreclosure.

Typical Nonjudicial Foreclosure: Example

Learn what happens in a typical nonjudicial foreclosure.

Should I Ignore Calls From My Mortgage Servicer?

If you want to save your home from foreclosure, proactive and responsive communication with your servicer is critical.

Foreclosure Basics

Get an overview of basic foreclosure terms, steps in a foreclosure, and possible defenses to foreclosure.

What Is a Mortgage Servicer & Who Is My Mortgage Servicer?

Mortgage servicers handle the day-to-day management of loan accounts.

Who—or What—Is Fannie Mae?

Learn how Fannie Mae fits into the mortgage market in the United States.

Who—or What—Is Freddie Mac?

Freddie Mac is a government-sponsored enterprise that buys mortgage loans from banks and other lenders.

Does My Loan Servicer Have to Comply With Federal Mortgage Servicing Rules?

Most servicers have to follow federal mortgage servicing laws. Certain “small servicers” are exempt though.

Foreclosure Do's and Don'ts

Get tips on what to do—and what not do—if you’re facing a foreclosure.

What Happens If My Mortgage Is Sold to a New Owner or the Servicer Changes?

Dealing with the transition when your lender transfers your home loan to a new owner or servicer.