Notice of intent to foreclose
A notice indicating intent to foreclose on a property due to non-payment.
This notice serves as a formal warning to the property owner of impending foreclosure proceedings. It is often used to encourage payment and avoid foreclosure, which is a complex and costly process for both parties. Proper documentation and adherence to legal procedures are crucial.
Used in a sentence
Issue a notice of intent to foreclose if payment isn't received by the deadline.
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