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FUNDAMENTAL STRATEGY | EDUCATION FROM BROKERS Fri 16 Apr

EUR/USD to chase a break higher?

ING believes EUR/USD will break higher, and you? What is moving the markets these days? What are the main drivers of currency pairs? First, the vaccination pace. The second, the recovery speed. And finally, investors are concerned about how soon the central banks will tighten the policy (increase rates or/and cut asset purchases). Let's analyze the most traded pair - EUR/USD. At the first sight, the US is doing better than the Euro Area. The percentage of vaccinated people is much higher in the US than in the EU. Elsewhere, after problems with AtraZeneca's vaccine, Johnson & Johnson stopped sending its vaccine to the EU as well because of the possible negative side effects. While the US does not depend on J&J, Europe may suffer a delay of 3-4 months to obtain its goal to vaccinate 70% of the population. As a result, it may significantly worsen the situation in Eurozone and press the euro down. However, EU Retail sales came out much better than expected this Monday: 3.0% vs the forecast of 1.3%. It's just the beginning of further growth - more to come in the months ahead! Elsewhere, according to Barclays, European people acquired savings at 600 billion euros ($714 billion) during long lockdowns. But when they feel free to go out without any restrictions, they will tend to spend them more. So, consumer spending will grow and help the economy to recover. Forecasts ING foresees the tentative recovery for Europe. The bank points that the USD has started losing its steam and the breakout of EUR/USD above 1.2000 is very likely! According to ING's model, EUR/USD is undervalued by almost 2%. Indeed, if you look at the chart below, you'll notice that the RSI indicator is well below 70.00 level, so it's not overbought. Tech analysis EUR/USD has failed to cross the resistance of 1.1990-1.2000 so far. However, if it does, the way up to the 100-day moving average of 1.2050 will be open. On the flip side, if it breaks below the 50-day moving average of 1.1960, the way down to the 200-day moving average of 1.1890 will be clear. Invest in yourself. See our forex education hub.

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FUNDAMENTAL STRATEGY | EDUCATION FROM BROKERS Fri 16 Apr

2021 the year of pharma: A look at Moderna and Pfizer stocks

An overview of Moderna and Pfizer stocks 2020 was all about COVID-19, the brand-new pandemic which took the world by storm, sweeping through continents and debilitating countries. 21st-century medicine came to the rescue, developing vaccines to fight the virus. Fast forward to 2021, the hot topic is the COVID-19 vaccine, or rather vaccines. The infamous vaccine is not just 'one' vaccine, a number of pharmaceutical companies have developed different vaccines which are being rolled out in different countries. In fact, vaccines are a gigantic business at the moment highly affecting the status of the companies producing and selling them. Pfizer and Moderna became household names, celebrities one might say as anxious consumers hoped to see light at the end of the COVID-tunnel. Where there's business there's money, and where there's money there are opportunists. Investors spent their first lockdown studying every possible scenario for companies such as Pfizer and Moderna, foreseeing a major spike in their stocks, provided they indeed become saviors of the world. Let's take a look at how these companies have performed in light of releasing the vaccines and how their stocks have been affected. Moderna: COVID-19 (mRNA-1273) vaccine Stock price (at the time of writing): 147.47 USD per shareStock price before vaccine release: Under 35 USD per share Up until late 2019, Moderna's price was under 25 USD per share. When the company announced that its COVID-19 vaccine was 94.1% effective in phase 3 tests in December 2020, the stocks shot up. On February 8 2021 Moderna shares hit a record high. In 2020 Moderna shares shot up by more than 434%, despite announcing losses for the company. Now with the vaccine in active use, a bullish outcome is expected. The plans at the moment are for 1.4 billion doses to be made in 2021. Moderna's been a winner for shareholders. Its stock has skyrocketed more than 570% over the past 12 months. The company's CEO Stéphane Bancel assures investors that revenue from the vaccine will fund more research and development. Another positive analysts point to is Moderna's pipeline of recurring revenue streams. The COVID-19 vaccine, booster shots, and other successor vaccines will continue to produce more growth for the biotech company. Pfizer, Inc. and BioNTech (BNT162b2) vaccine Stock price (at the time of writing): 36.40 USD per shareStock price before vaccine release: 40.74USD per share It's been a very different story for Pfizer stock which underperformed during the pandemic relative to other covid stocks.  PFE was trading below 35 USD in mid-November and as it entered into December was just pennies shy of 40 USD. By December 9th, it had peaked at 43.09 USD. In early December Pfizer announced it would scale back its manufacturing capacity from 100 million to 50 million doses.  That wasn't good news for wall street, and stocks in Pfizer began a downside move shortly after to close out the year at around 37 USD per share. Pfizer's underperformance was unexpected. Especially considering it was the first company to receive regulatory approval for its vaccine. Approval alone didn't lift stock prices very high and Pfizer's stock performance continued to be dampened with details regarding the vaccine's distribution and administration. For example, the Pfizer/BioNTech vaccine needs to be kept at a temperature of -70C. Once it's been delivered, jabs need to be used within 10 days. These steps add logistical layers that governments prefer to avoid. And avoid they can, with other vaccine options available, and ones that are not as complex to distribute and deliver. Earlier this year, Pfizer announced that it expected to achieve $15bn of vaccine sales - that's $2bn more than was initially expected.  That announcement resulted in the company's earnings guidance rising by about 10 cents per share. Pfizer's Chief Financial Officer Frank D'Amelio stressed that achieving the double-digit operational revenue growth they want to see by Q4 2021 depended on a wide range of products that extended beyond the coronavirus vaccine. Pfizer shares have only gained 5.55% as of April 2021. Trading at 36.28 USD it has moved -0.06% from the previous trading session.  Traders have been hoping that PFE gains some ground as it approaches its next earnings release on May 4, 2021. Future outlook There is a strong possibility that new versions of the vaccine will need to be released every year to deal with possible Covid-19 mutations. If vaccinated patients will also require booster shots as immunity subsides over time, both Pfizer and Moderna could stand to blow past revenue expectations. Demand for Moderna's Covid-19 shot is still strong, and analysts still say Pfizer stock is a solid choice for longer-term portfolios. Invest in yourself. See our forex education hub.

FUNDAMENTAL STRATEGY | EDUCATION FROM BROKERS Fri 16 Apr

Is this the beginning of the end of the pandemic?

Are the markets returning to normal? The Covid-19 outbreak hit the markets hard last year, posing significant economic problems, including a short but severe recession. For a while, it didn't seem like anything will go back to how it had been before the pandemic. For the latter quarter of 2020, the public's focus had shifted from having a vaccine to delivering it efficiently to everyone who needed it most. Fighting the virus has been a journey of many steps, and after over a year, there now seems to be a light at the end of the tunnel The economy is beginning to bounce back based on optimism that the vaccines will help economies and businesses return to normal. Is the optimism warranted, and will the markets continue to react positively to our eventual return to normal? The outlook, normal Although the economy has regained much of its lost ground over the past year, its performance has been lackluster overall. On March 26, the S&P 500 hit a record peak for the week, the Dow soared 450 points, the NASDAQ gained 1.2 percent, and the other indices rose sharply following reports predicting low inflation ahead. At the close of markets last week, real estate, oil, electronics, and materials had the highest returns. Indices surged on news of the stimulus plan, Powell's pledge of low inflation, and lower bond yields, which are helping investors feel more confident. Nonetheless, household spending dropped $149.0 billion, or 1% in February, while personal income fell $1,516.6 billion, or by 7.1 percent. According to UBS, the U.S. economy will expand 7.9 percent from the fourth quarter of 2020 to 2021. This is mostly attributed to Biden's proposed stimulus funds. Vaccine distribution The astonishingly fast production and acceptance of Pfizer-BioNTech and Moderna vaccines continued to favorably affect market sentiment in the final months of 2020 and this continues to be viewed as a promising sign for the economy's long-term wellbeing. With Pfizer-BioNTech and Moderna vaccines now in large-scale development, the question now is how quickly and widely will the vaccines be distributed over the coming months. This will in essence determine when the economy will fully recover. Analysts are forecasting that by the end of 2021, the vaccines would have drastically stopped the spread of COVID-19. For now, governments are fast-tracking vaccine deliveries which are expected to be universally administered by the end of the second quarter or early in the third quarter of 2021. Lifting travel bans The U.K. recently announced that it will lift the lockdowns in June. Many European countries have hinted that they'll also be lifting lockdowns soon. Travel controls, including strict social distancing laws imposed in reaction to the COVID-19, will be gradually lifted. Airline travel that was negatively affected by the pandemic over the past year will begin to pick up again. In the most recent quarter, several airlines have started to see changes. However, the travel industry is not expected to recover quickly. Some countries will recover faster than others, and different countries will be imposing different regulations on the industry as a whole. Broader market outlook Small businesses are projected to recover, although painfully, thanks to stimulus funds. As vaccines become more widespread, sales in travel, hotels, professional services, and other industries will rise. The S&P 500, NASDAQ, Russell 2000, and Dow Jones Industrial Average all look steady across the coming year. With stimulus being introduced and a promising employment report published last Thursday, it doesn't look like anything can happen to break the trend. According to Goldman Sachs, GDP will rise at a 5.3 percent annual rate in 2021, with an unemployment rate of 5.3 percent. They expect the S&P 500 to climb 17% to 4,300 points, led by a 30% increase in corporate earnings. Medical and health care (biotech) customer discretionary (travel, entertainment, retail) technology (cloud computing companies, and technical service industry companies), Power stocks (oil, renewable energy, power, etc.) are some of the best industries to watch in 2021. However, most analysts say the key to making a more accurate 12-month prediction this year, is waiting until the bulk of the 40+ population is vaccinated. That's when the future of the markets will begin to get clearer.  Key currencies USD The U.S. Bureau of National Statistics announced earlier this month a higher-than-expected US GDP. Findings indicated that the economy had expanded faster in the fourth quarter, hitting 4.3 percent, 0.2 percent more than anticipated. The US job market is beginning to show signs of accelerating growth, which has encouraged outlooks for an early economic rebound. The jobless reports in the United States have fallen to their lowest amount in a year, as more Americans get vaccinated, and business laws in many states relax. GBP Over in the United Kingdom, there's been a change in expectations about the Bank of England's policy. While the bank's reduced its short-term estimates due to coronavirus constraints, it still expects the economy to rebound strongly later this year. Overall, however, UK fundamentals remain highly volatile, limiting the potential for independent currency gains. Trends in the global economy and the dollar will also boost Sterling's movements, with more space for the pound to grow if the global economy recovers strongly. EUR The recent rise in bond yields, including those issued by Eurozone governments, indicates that there's no significant tightening in monetary policy. While data reflected optimism over a post-pandemic economic recovery. An interest rate reduction is probably unavoidable however a decision to raise bond purchases is likely and that'll be negative for the EUR/USD. This can have an effect on the pair's success for the rest of the year, and we could see a bearish run. JPY The Bank of Japan (BOJ) is in a difficult situation and it's been there for a while with inflation and development running slow and getting worse since the coronavirus outbreak. As a result, the Bank of Japan's governor Haruhiko Kuroda announced a decision to keep monetary policy on hold for another six months in order to fulfill the bank's 2% inflation target. The Yen gained against the greenback last week, marking its second consecutive weekly advance. Still, we may see a USD/JPY moving higher in the long term because of a stronger dollar. CHF The SNB supports its forecast for GDP growth of 2.5 percent to 3 percent in 2021. This activity is projected to rebound to pre-crisis levels in the second half of the year. In the current scenario, both the inflation outlook and the growth projections for Switzerland and the rest of the world are filled with confusion. As a result, the USD/CHF will most likely stay over 1.000 by the end of 2021. What's Next? The hope is that, at some point in 2021, the global economy will eventually restart a "steady state" situation, shifting to something more similar to what was considered natural prior to the pandemic. Several markets could be positioned to prosper indefinitely from improvements brought on by the pandemic's emergence. Cloud computing and video streaming are two services that analysts are predicting will continue to evolve in 2021. However, as the "steady condition" returns, it may take some time to truly distinguish the real market winners and losers. When the time comes headline events will take a back seat, and traditional market fundamentals like corporate earnings are more likely to forecast investment success. So, analysts advise maintaining a long-term , well-diversified investing and trading policy that fits with your risk exposure appetite. Invest in yourself. See our forex education hub.

TRADING TECHNIQUES Fri 16 Apr

Non-trend transitions to trend. How you can sniff out a trend move.

A look at the AUDUSD price action this week and how it showed the way to a trend move.... Traders tend to get mesmerized by non-trending markets. They tend not to see a way out of the ups and downs and because of it, often miss out on a trend move where the price move is fast, directional and tends to go farther than most think.   In this video, I outline how to prepare for a trending market by looking at a recent non-trend market in the AUDUSD, and how it prepared me for a break and trend-like run.   Invest in yourself. See our forex education hub.

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ECONOMICS | EDUCATION FROM BROKERS Thu 15 Apr

Creditors, borrowers, and their involvement with forbearance grants

Understanding forbearance What is forbearance? Forbearance allows borrowers to postpone their mortgage payments or other loans such as student loans. Lenders give borrowers this time instead of foreclosure and paying for its process. Both the lender and the borrower should come up with a mutual agreement in terms of forbearance. The borrower must disclose the reason for delayed payment, and it should be a reasonable excuse such as a significant illness or a job loss. This issue is very timely, mostly due to the global effects of the pandemic. It's a mutual benefit. How can forbearance give mutual benefit to a borrower and a creditor? It is evident for the borrower since forbearance gives them a chance to postpone their payments considering their challenging situation. But how does it benefit a creditor? Sometimes, yes, it helps a loan owner because if they do not grant forbearance, they need to do foreclosure and pay a hefty amount throughout the process. However, some creditors who do not necessarily own the loan will not grant borrower forbearance since they are not subject to financial risk. Foreclosure in line with forbearance When we say foreclosure, we talk about the legal process where creditors take the ownership of a mortgaged property because the borrower cannot continue the payments required anymore. Later on, the creditor sells this property for repossession. How do creditors assess if they will grant forbearance to a borrower? Let's say Mr. Dane, a borrower, called his creditor today and asks for forbearance. He explained that he lost his job because their company laid-off a massive amount of employees due to the pandemic. He is also their family's breadwinner, so he needs to pay for their daily necessities, albeit losing his job. He has no income at the moment. The creditor will go on and look at his records. He will check if Mr. Dane has been responsible for his payments. Did he miss a payment? Did Mr. Dane always have a stable job? Is he likely to be employed soon? Creditors will most likely understand the situation and grant Mr. Dane forbearance if he's been responsible enough. However, this is not for borrowers who have missed payments and previous unstable jobs even if they got laid-off recently. Terms if creditors grant forbearance Borrowers think that forbearance grants depend on the creditor. From another point of view, it depends on the borrowers and their history. It depends whether they have the potential to regularly pay again as soon as the temporary situation and forbearance lifts. The creditor can decide to give the borrower either a partial reduction or a full reduction depending on how critical the borrower's situation is and how much confidence the creditor has for the borrower to pay or catch up on the payments. Other instances include: Full moratorium. The lender grants this to the borrower on the mortgage payments during the forbearance period. Interest payments. The borrower pays interest payments but not a lessened principal. Partial interest payments. The borrower pays this and the unpaid portion that leads to negative amortization. Lesser interest rates. The lender may grant this momentarily. Invest in yourself. See our forex education hub.

TRUSTED GURUS | EDUCATION FROM BROKERS Thu 15 Apr

Entering his prime: FX veteran Hossain-Nelson joins INFINOX to ramp up IX Prime offering

Chris Hossain-Nelson joins INFINOX Global trading provider INFINOX brings on 25-year FX veteran Chris Hossain-Nelson to accelerate growth of its IX Prime institutional divisionIX Prime provides market infrastructure and liquidity to international exchanges including the B3, the world's third largest derivatives exchangeHossain-Nelson, who joins from GMI UK, will drive global expansion of IX Prime as INFINOX consolidates a period of rapid growth The global trading provider INFINOX has announced an audacious, strategic hire as it ramps up its institutional arm IX Prime. Chris Hossain-Nelson, previously an Executive Director at Global Market Index (GMI UK) has been unveiled as Head of Institutional Sales at INFINOX, the global brokerage with a presence in 15 countries. Chris, who is a well-known and highly respected figure in the FX and CFD trading industry, joins INFINOX as it builds on a period of exceptional growth. It recorded a 61% jump in revenue and a 28% increase in trading volumes to $553bn in 2020 alone. Mr Hossain-Nelson, who has a 25-year pedigree in the sector and has served in senior roles at both FXCM and GMI, will now lead the global expansion of INFINOX's institutional and market making division IX Prime. IX Prime provides trading infrastructure and liquidity to international exchanges including the Brasil Bolsa Balcão (B3) - the world's third largest derivatives exchange - and the brand's combination of cutting-edge trading technology and deep reserves of liquidity have made it the partner of choice for a range of global hedge funds, brokers and exchanges. Robert Berkeley, CEO of INFINOX, said: "Chris's addition to the INFINOX team cements our position as a premium liquidity provider. As a partner-led business, Chris's experience in client relations, institutional sales and partnerships will play a vital role in accelerating the global growth of IX Prime. "Our liquidity offering to institutional clients and top-tier exchanges like the B3 has fuelled our growth to date. We are confident that with the experience and professionalism that Chris brings to the table, IX Prime will continue to be a respected provider and grow from strength to strength." Chris Hossain-Nelson, Head of Institutional Sales at IX Prime, added: "I am genuinely thrilled to be joining the INFINOX and IX Prime team. I have watched the INFINOX brokerage from afar and admired its impressive growth, both in terms of trading volume and the way it has assembled a highly talented and professional team. "The institutional world centres around service, innovation and relationships, and these will all be central to our drive to deliver further success at IX Prime over the coming years." Invest in yourself. See our forex education hub.

ECONOMICS | BASICS Thu 15 Apr

Terminology 101: What's the 'Fed put'?

A back up for stocks You may have heard the phrase, the "Fed Put' and wondered what it means. So, here is a quick explanation as to what it is, so you can understand the phrase. Every industry has it's own 'lingo' which just helps to speed up communication, but can be annoying if you don't understand the short hand phrase. The Fed put is essentially the belief that the market has around stocks. If stock market's fall a certain amount, say by around 15%, many investors believe that the Federal Reserve will step up and put in policies to ensure equity markets do not keep falling. What's the belief based on? Well as far as I am aware this has its origins during the 1990's by the then Federal Reserve Chairman Alan Greenspan. He was credited with the fact that every time the market faced a tricky crisis, he would step up and cut interest rates and thereby support falling equity markets.His policy was seen as so predictable that it was referred to as the 'Greenspan put'. There is a practise where investors go long on a stock, but also put in a put option to reduce losses should the price of stocks fall. It is essentially a type fo insurance policy against falling stocks prices. What that means now That any serious dips in equity markets should find buyers. However, be aware that the sharp rise in equity markets over the last 12+ months are unusual. Markets are extended and there is a concern amongst seasoned hands that a correction is due followed by a return to a more normal 3-7% increase in stocks. This means the chances are potentially increasing of buying in at the top. Leveraged traders, be nimble and only find decent technical areas to enter. 

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FUNDAMENTAL STRATEGY | EDUCATION FROM BROKERS Wed 14 Apr

Top 10 FX pairs to keep an eye on for 2021

What are some of the best opportunities in the FX market this year 2021 is undoubtedly a crucial period to trade currencies. Big profits are earned in turbulent times when volatility is skewed. Liquidity, correlation, and leverage are currently moving all asset classes aggressively and shaking off the weakest hands, which rippled these hostile moves to all FX pairs. Despite the distress, numerous opportunities have risen and some FX pairs should be kept on a trader's watchlist while feasible investment opportunities are to be revealed. The year 2020 is over, but the shocks that generated fissures in financial markets back then still linger in 2021 as a full recovery is still being dealt with. USDTRY: Emerging markets are currently showing many signs of weakness again. A reason for this fragility is the strengthening of the US dollar and the rising US interest rates. Investors have reduced their risk appetite lately while also the rising interest rates have increased the cost on economies that have large amounts of debt in US dollars. The Turkish Lira is still expected to depreciate further down as US interest rates are still on the rise. USDCAD: This pair is highly correlated to US interest rates and crude oil price fluctuations. If US interest rates head up to 2% by year end and crude oil fails to cheer the bulls, then a buy position in this pair will unquestionably add value to a long dollar portfolio. USDCNH: China's debt build up definitely ranks as one of the largest in recent history. This rapid growth in debt creates heightened financial risks for the Yuan. It is clear that the US dollar has weakened lately against the Yuan, however many alarming factors come into play for the long run. Experts are concerned that China's debt is surging at an unusual pace which typically leads to financial busts. In the long-term, China's rising national debt levels will create serious hazards. To fight off the consequences, asset deleveraging will be imminent and fatal to all asset classes, thus leading investors to shift their investments into the safe haven dollar. EURNOK: Norges Bank is expected to hike interest rates later in 2021. Higher interest rates with higher crude oil prices will certainly point to a stronger NOK. If crude oil tests the $67 price level again, then shorting the EURNOK would sound quite lucrative. EURGBP: The close geographical link and trade disagreements between Europe and the UK makes this pair difficult to trade and forecast. On a weekly chart, the pair is trading in a choppy range. The Euro might fail to hold ground on the long run, due to many confidence and political concerns that emerged in the Eurozone after the pandemic. If the Bank of England attempts to hike its interest rates when the Euro comes crashing down, short positions on this pair will be quite profitable. GBPJPY: Bank of England sees hopeful signs ahead for the UK due to their remarkable vaccination prowess. The road to recovery led the pound to realize significant upside moves in the 1st quarter of 2021. On another note, the gross short yen position by non-commercials soared from 13k contracts, a multi-year low, in the first half of January to 85k contracts as of April 6. Clearly, the GBPJPY chart shows that the pair might again visit its 2018 highs at 156. A probable 600 pip move upwards (from the current market price at 150) with a tight stop loss could be your finest trade. GBPNZD: Since mid-January 2021, this pair has been seen trending up in a near perfect bull channel. Although both the British pound and the New Zealand dollar strengthened against the US dollar when the stock market rallied in October, the pound seemed to have more aggressive buying positions. The pair has room to surge higher as the Bank of England announced that negative interest rates are not an option, conversely to the RBNZ considering sub-zero rates as of next year.    AUDUSD: Despite the rising interest rates on the US dollar, the Australian dollar is holding ground tightly. For the first time in a few years, the economic growth in Australia looks promising. Iron ore export volume rose to 11% YoY for the month of April, which offers a fundamental reason for the pair to extend its bullish trend. CADJPY: BoC's relatively good outlook about the economy is a shocking plus for the loonie. The economic recovery in Canada is likely to persist. The massive monetary injections and rapidly rising debt are adding to the Yen's weakness. Also, if crude oil manages to get out of its current trading range with some upward momentum, this pair has the potential to go much higher.  NZDCHF: This pair is mostly correlated to liquidity and risk fluctuations in the market. A risk-on mood benefits the perceived risky NZD, as money flows out of the safe haven CHF. Lately, market participants decreased their risky bets, which led this pair to tumble down. A continuation of the downtrend is still highly probable given the overvalued market.  This article was submitted by Royal. Invest in yourself. See our forex education hub.

ECONOMICS | EDUCATION FROM BROKERS Wed 14 Apr

Foreclosure and the stages involved for lenders and borrowers

A better understanding of the foreclosure process What is a foreclosure? Foreclosure is a term used mostly in real estate when a borrower or a homeowner cannot or won't pay the required mortgage anymore. It is a legal process that starts when borrowers lose all rights to the property because they failed to pay the outstanding debts to the creditor short selling the property and foreclosure auction. The lender would own the property if it did not get sold.  The borrower fails to make payments. The first stage is when borrowers cannot make payments on time and for a prolonged time, usually due to unemployment or illnesses. However, there are still some ways to avoid foreclosure by negotiating with your creditor.  One way is to ask for forbearance. Forbearance allows a borrower to delay or postpone a mortgage payment. The creditor can grant this, provided that the borrower has a clean record and has been responsible for his payments. For example, the borrower has been stable and employed for a long time, and he never missed a payment, but due to unforeseeable instances, he got laid-off in his job. The creditor might consider granting forbearance, primarily due to his situation. Also, foreclosure talks about a long and expensive process that is why some loan owners give forbearances to avoid this. Sometimes, a borrower stops paying the mortgage because it is not practical if the mortgage is more expensive than its intrinsic value. Sometimes, the property is just too much to maintain. Posting of the notice of default It may be different from one state to another, but usually, in a span of three to six months of missed payments, the county recorder's office will consider this a mortgage default. The lender will place a notice on the front door to make everyone aware that the borrower might lose the property if they don't pay soon enough. The pre-foreclosure grace period After the lender posts the notice of default, the borrower will be given around three to four months to pay the outstanding debt or make a short sale arrangement with the lender. If the borrower pays, then the foreclosure gets canceled, but if not, the foreclosure continues. The foreclosure auction If the borrower still did not pay at the deadline, the lender or its trustee can put the property for a foreclosure auction. It will go to the county recorder's office. They will post another notice at the borrower's property, and this information will be in the newspapers. A right of redemption allows a borrower to stop a foreclosure by paying the outstanding debt before another person buys the property. The deed in lieu of foreclosure is the agreement between the lender and the borrower to take back the property. However, the creditor can give the property to the highest bidder, who will pay in cash, or else the bank can repurchase it at the auction.  Finally, the post-foreclosure The property turns to a bank-owned or real estate owned if it does not get sold at the auction. Disposition of these properties can be through either open market enlistments of real estate agents or liquidation auctions. Invest in yourself. See our forex education hub.


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