Real Estate Term of the Day: Foreclosure & Foreclosure Sale

Real Estate Term of the Day: Foreclosure FORECLOSURE – a legal process in which mortgage property is sold to pay the loan of the defaulting borrower. Foreclosure laws are based on the statues of each state (HUD) Here is a good outline of the Colorado Foreclosure Process via Boulder County: Mortgage payments are typically due on the first day of … More Real Estate Term of the Day: Foreclosure & Foreclosure Sale

Real Estate Term of the Day: Flood Insurance

Real Estate Term of the Day: Flood Insurance FLOOD INSURANCE – an insurance policy that covers property damage due to natural flooding.  Flood insurance is offered by private insurers but is subsidized by the federal government (Barron’s Dictionary of Real Estate Terms) When you purchase your home, your lender will always require a flood certificate … More Real Estate Term of the Day: Flood Insurance