Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments. If the borrower does not bring the loan current or make other arrangements with the lender, the lender may sell the property to satisfy the debt.
There are several ways to find out if a property is in foreclosure. One way is to look for a notice of default (NOD) or a notice of sale (NOS) that has been filed with the county recorder’s office. These notices are typically published in the local newspaper as well.
