Foreclosure is the legal process by which a secured creditor such as a mortgagee, the holder of a judgment or some other private or public lien holder can enforce collection of sums owed. If brought to its conclusion, an owner's right to the foreclosed property is terminated. All but a very few foreclosures involve mortgages. The mortgagee’s right to proceed in foreclosure is generally occasioned by a default of some kind, usually failure to pay, and can eventuate to a forced sale of the property at a public auction, with any excess proceeds being applied to the debt.

The essence of our world economy is based upon credit therefore protection of creditors is essential if we want to continue the process. At Brod, Goldfarb & Associates, we expend great effort to protect all of our clients in the lending community so that our economic way of life will not be threatened.