Foreclosure regulations

Foreclosure regulations govern the legal process lenders use to recover a loan when a borrower defaults. These rules ensure borrowers’ rights are protected while allowing lenders to reclaim the property through specified procedures. Typically, lenders must provide notices, follow state-specific timelines, and sometimes hold judicial proceedings, depending on the jurisdiction. The goal is to balance fair debt collection with preventing wrongful foreclosure. Regulations also oversee how properties are sold and ensure transparency, giving borrowers opportunities to address outstanding debts before losing their homes.