Vorbaulage
Vorbaulage is a German term that translates to "foreclosure" in English, referring to the legal process by which a lender takes possession of a property after the borrower defaults on their mortgage payments. This process is initiated when a borrower fails to meet their loan obligations, typically by missing several consecutive mortgage payments.
The foreclosure process varies by jurisdiction, but generally involves a series of legal steps. The lender
Once a court order is obtained, the property is typically put up for auction. The proceeds from
Foreclosure has significant consequences for the borrower, including the loss of their home and a negative