Once a note «goes bad» foreclosure procedures vary across the board. (biggerpockets.com)
If not brought up to date mortgage foreclosure procedures can result in the sale of the property. (bankruptcy-canada.ca)
The servicing activities are performed on a fee - for - service basis and involve the management of mortgage payments, escrow accounts, and insurance claims, as well as the administration of foreclosure procedures, and the preservation and disposal of real estate owned. (classicvalueinvestors.com)