What does foreclosure mean? The guarantee company is

Redemption refers to the whole process that the original owner wants to sell the house, but the house is still in the bank mortgage loan. Before the house is sold, you must pay off the bank loan, cancel the mortgage registration and get back the property certificate. The role of the guarantee company in the process of advance payment and redemption is to help the original owner return all the money of the mortgaged property to the loan bank when the original owner cannot pay off all the loans with his own funds, and the bank will cancel the mortgage registration of the new property. So that the original owner can get back the real estate license, so as to carry out the transaction and go through the transfer formalities at the property right registration department. Redemption generally occurs in the process of second-hand housing transactions. Buyers and sellers generally entrust intermediary companies to help them operate, and guarantee companies are generally recommended by intermediary companies. Sometimes two companies are actually affiliated companies, but they are two different legal relationships. The parties to the house sale may not know this. When there is a dispute over foreclosure, it is often difficult to distinguish the responsibilities. Therefore, in the process of foreclosure, it should be noted that not only the second-hand housing sales contract has been signed, but also the rights and obligations of the buyer and the seller. Once there is a dispute in the process of guarantee redemption, the responsibilities of the guarantee company and the client can be clearly defined. This customer can be a house seller or a house buyer. Second, be careful when handling the power of attorney to prevent the power of attorney from being used by others.