Paris-Henry County, Tennessee. You might think we are big â Kentucky Lake, the largest manmade lake in the Southeast, a big catfish on a pole, the Worldâs Biggest Fish Fry, big smiles, big hearts that volunteer to help one another and raise over $200,000 a year for local charities selling homemade pies and casseroles.
DEFINITION of 'Pre-Foreclosure' Pre-foreclosure refers to the state of a property that is in the early stages of being repossessed due to the property owner's inability to pay an outstanding mortgage obligation.
Answer: A foreclosure is a legal process that can take place either in or out of court and is undertaken by a lender when a borrower defaults on a loan that is secured by real property. The lender goes through the foreclosure process in order to sell the property to satisfy the debt that is owed by the borrower.