Explain foreclosure to me. Is it caused by

[Deonndre21]

someone not paying mortgage? How does it differ from eviction?

[CHARITY G]

eviction is generally associated with rentals. however if you do not pay your mortgage you become a de facto tenant of the bank and can be subject to eviction . . .

[christopherc]

Foreclosure is the process when bank or lender forces "homeowner" out of home and takes the property, eviction is essentially when tenant doesn't have principal interest in the home and force out by those that do.

Latest scam is for property owners to rent out homes knowing the bank will be foreclosing on it. So renter pays first last months plus security, property owner takes off with money and the bank comes in and foreclosing on property forcing and eviction.

[TxTopCop]

1. Foreclosure is the financial institution initiating civil procedures to take possession of a property in which the owner has failed to pay for.
2. Eviction is the owner of a property requesting that the court remove the tenant for non-payment of rent and/or lease violations (Such as drug activity, operating a business from the home, etc. )

Does that help??

[michelob86]

Foreclosure is the process of losing your house. You are still allowed to occupy the property until the foreclosure is completed.

Eviction is when the foreclosure process is done and you are no longer allowed to occupy the property.

You can, also, be evicted from an apartment. That is a rental default. With eviction at its conclusion.