Foreclosure of a private property
Mr. Williams stopped paying his debt and Ihave no choice but to sell his property to recover the left balance. I have too much work in the office and have no time to organize the papers needed. So if Mr. Williams was able to give the left balance before my middleman finish the papers, I will stop the operation.
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A notice of default should be issued first by the lender and if the borrower still not responded, a notice of trustee's sale is recorded in the county office. The lender can then sell the property through a public auction and the money that will be collected to that will be the payment for the borrower's unpaid debt.