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.
Judicial foreclosures are rare in California. A judicial foreclosure allows the lender to get a deficiency judgment against the borrower. BUT the homeowner has the âright of redemption,â which allows him or her to buy the home back from the successful bidder at the auction for 1 year after the sale.