Paris-Henry County, Tennessee. You might think we are big â Kentucky Lake, the largest manmade lake in the Southeast, a big catfish on a pole, the Worldâs Biggest Fish Fry, big smiles, big hearts that volunteer to help one another and raise over $200,000 a year for local charities selling homemade pies and casseroles.
DEFINITION of 'Pre-Foreclosure' Pre-foreclosure refers to the state of a property that is in the early stages of being repossessed due to the property owner's inability to pay an outstanding mortgage obligation.
Pre-foreclosure Period. The lender can proceed with foreclosure out of court as long as the mortgage or deed of trust gives them the authority to do so. However, the restrictions under Oklahoma law make it difficult to initiate a foreclosure out of court, so this type of foreclosure is rare. The majority of foreclosures in Oklahoma are through the court system.