Foreclosure is the process by which a lender takes recontrol of mortgaged property that has been defaulted upon. Usually the lender recovers the defaulted amount through the process of auctions, called as foreclosure auctions. Steps To Bear In Mind Before Foreclosure Auctions31 Oct, 2009 in Foreclosures tagged buy foreclosed homes / find foreclosures / foreclosed homes for sale / foreclosure auctions / foreclosure listings / Foreclosures / foreclosures for sale / homes in foreclosure by John Peterson