If you stop making payments on your mortgage, the property may go into foreclosure, which is when the lender takes legal ownership of your home. It’s a highly stressful time for you and a costly process for your lender, and everyone involved is better served by working together to take an alternative path. Key takeaways…

Taylor Getler writes for NerdWallet. Email: tgetler@nerdwallet.com.

The article What Is Foreclosure? originally appeared on NerdWallet.

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