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.
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.