For Foreclosure Information
When people are buying properties, they are expected to repay their loans every month regularly. If they are unable to repay their loan amount, money lender take legal steps and go through the foreclosure process. There are four stages in the foreclosure process and when they send petition with courts, they become petitioner and the money receivers become respondents. When they contact their customers for repaying entire amount with interest, it is known as the first stage. Issuance of petition is the second stage and order of Nisi is the next stage in the foreclosure process. Finally, the order of absolute is the stage, where the property would be taken by money lenders, if their due amounts are not paid by their respondents.