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Introduction Building foreclosure is a tough experience that can have lasting financial and psychological impacts. Whether due to job loss, unanticipated expenses, or interest rate adjustments, repossession usually stems from missed out on mortgage repayments. 1. Understand the Repossession Process Before dealing with repossession, comprehending the process is vital. Normally, lending institutions start by sending notifications after numerous missed out on payments, followed by repossession procedures if the home mortgage stays unsettled.