What's the difference between secured foreclosure and cash foreclosure?

When most people buy and sell second-hand houses, because the real estate is likely to be in the state of installment payment, they need to go to the real estate to redeem the building before they can trade. There are two forms: secured redemption and cash redemption. Many people are asking what is the difference between mortgage foreclosure and cash foreclosure? 1. Cash Redemption The so-called cash redemption refers to the redemption by the guarantee company in the form of cash contribution. During the period, cancellation, redemption, transfer and other procedures shall be handled by the guarantee company according to the fair entrustment of the buyer and the seller. Its advantages are short time consumption, convenience and quickness. The disadvantage is that you have to pay a certain fee to redeem the house. 2. Mortgage redemption is different from cash redemption. Mortgage redemption refers to the business of buying and selling second-hand real estate that is not mortgaged by the bank. The guarantee company can apply to the bank to pay off the original consumer loan or mortgage loan in advance, so as to complete the mortgage cancellation, transfer and re-mortgage registration of the real estate. Summary: In the final analysis, what is the difference between secured foreclosure and cash foreclosure? In a word, the cost of secured foreclosure is relatively low, but the foreclosure cycle is very long and the procedures are cumbersome.