I’ve missed a few mortgage payments, now what happens?
Foreclosure may occur. This is the legal means that your lender can use to repossess (take over) your home. When the actual foreclosure happens you must move or you’ll be evicted anyway. Also, you may still owe the lender if they sell the house for less than you owe. You do have several options but because foreclosure or a deficiency judgment could seriously affect your ability to qualify for credit in the future, you should avoid foreclosure it if all possible!
