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.
Non-judicial Foreclosure â Generally, this is the preferred method of foreclosure. The process can happen without having to go to court, saving time and money. While it varies from state to state, generally there is a notice of default/notice of sale issued to the homeowner.