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.
Foreclosure is the legal process which occurs when the borrower cannot pay his mortgage. The lender sells the property at auction to recover the monies owed on the property. Your first indication that the lender intends to auction the property is the Notice of Default.The Notice of Default serves as your official notice from the county that the lender is pursuing foreclosure. Approximately 90 days after you receive the Notice of Default, you will receive the auction notice.uction Notice. The auction notice, or Notice of Sale, is your final notice that the lender intends to sell the property at auction. The county prints the location, time and date of the trustee's auction on the Notice of Sale.