• Foreclosure Occurs When the Underlying Collateral is Liquidated (Event of Default)
• Getting to the Auction Bid
• Real Estate Collateral Will Become 'Other Real Estate Owned,' or OREO
• Personal Property Collateral Will Be Liquidated
• Market Bids are Still Market Bids
• IMPORTANCE TO YOU - Liquidation of collateral is a big, very big deal, but what's the real cost? Forced or cooperative liquidation? Making the best of a bad situation. Don't be deceptive, even if you are angry with the creditor. There is a better way to resolve any dispute