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What Does Foreclosure Mean?

By Kristi WaterworthUpdated Apr 29, 2026 at 2:35 AM EST

Key Points

  • Foreclosure means a mortgage owner repossesses a property due to unpaid debts.
  • Missing mortgage payments can trigger fees, demand letters, and eventually foreclosure.
  • To avoid foreclosure, timely payments or negotiating new terms with the bank are crucial.

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