What is the foreclosure process if I am unable to make my mortgage payments?

If you are unable to make your mortgage payments, the foreclosure process initiated by Franklin American Mortgage Company typically involves several steps. Initially, the company will attempt to reach out to you and assess your financial situation to explore alternatives and work out a plan to avoid foreclosure. If those efforts fail, the company may proceed with filing a formal notice of default, which marks the beginning of the foreclosure process. From there, the property may undergo a public auction, where it will be sold to recover the outstanding loan amount. Alternatively, Franklin American Mortgage Company could take possession of the property and sell it directly. It is important to note that foreclosure laws and procedures vary by state, and it is recommended to consult with legal and financial professionals for advice tailored to your specific circumstances.