Carol M. Kopp edits features on a wide range of subjects for Investopedia, including investing, personal finance, retirement planning, taxes, business management, and career development. Doretha ...

Preforeclosure begins when a homeowner has missed several monthly mortgage payments (often three consecutive payments in a row). Preforeclosure indicates that the lender is legally pursuing ...

A foreclosure occurs when a lender takes control over a property from a borrower who has failed to make timely payments. A foreclosure can damage your credit score and result in the loss of your home.

Christy Bieber is a full-time personal finance and legal writer with more than a decade of experience. She has a JD from UCLA as well as a degree in English, Media and Communications with a ...