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1. What is the difference between a mortgage foreclosure and a tax foreclosure?

A mortgage foreclosure may be filed because a borrower failed to make payments to the lender, whether it be a mortgage company, bank or credit union, as promised in a contractual agreement.

A tax foreclosure may be filed against property by the county because real estate taxes were not paid by the property owner as required by law.

2. Can I lose possession of my real estate by not making the mortgage payments as agreed?

Yes. Failure to make payments to the lender may result in a foreclosure action being filed.

3. What should I do if a mortgage foreclosure is filed against my property?

Contact your lending agency or an attorney.