Understanding Repossession When a borrower finally defaults on a loan, that is when repossession takes place and the lender repossesses the property used as collateral. In the case of homeownership and mortgages, this could imply that the bank has legal rights to take over the house if mortgage payments have not been made. Nevertheless, it … Can a Bank Repossess a House with People Living in It: What You Need to Know Read More » The post Can a Bank Repossess a House with People Living in I...
