an act of helpful activity; help; aid: to do someone a service. 2. the supplying or supplier of utilities or commodities, as water, electricity, or gas, required or demanded by the public. 3. the providing or a provider of accommodation and activities required by the public, as maintenance, repair, etc.: The manufacturer guarantees service and parts.
What is foreclosure? Foreclosure is a civil lawsuit in which a bank, mortgage company or other lien holder seeks a court order to sell your property to satisfy a debt. If the court awards judgment to the lender, the lender can have the property sold at auction to pay off the mortgage debt.
Notice of Default or Foreclosure Notice. Notice of Default or Foreclosure is a notification given to a borrower that he or she has not made their payments by the deadline. It says if the money owed (plus penalties) is not paid in a given time, the lender may choose to foreclose the borrowerâs property.