n. the system by which a party who has loaned money secured by a ...

Process by which the holder of a mortgage seizes the property of a homeowner who has not made interest and/or principal payments on time as stipulated in the mortgage contract.

The result of a mortgage going into default after which the property is sold by the mortgage lender to satisfy the debt.

The legal process by which a creditor may sell mortgaged property to recover a defaulted mortgage.

1728, from foreclose + -ure.

a legal proceeding that bars or extinguishes right

Procedure whereby a lender sells a property to collect payment due to default and to pay off debt.

A legal procedure in which the lender gets ownership of the property if the borrower defaults on the mortgage loan.

The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually results in the selling the property by auction and the proceeds being used to service the mortgage debt.

A legal remedy for non-payment of a mortgage debt. The lender takes and sells the property to cover amounts owed. Any remaining proceeds are returned to the borrower.

process where a building owner is unable to pay their creditors, so the creditors may sell the building.

Foreclosure occurs when your lender repossesses your home because you have defaulted on your mortgage loan or home equity line of credit. You default by failing to pay interest and repay the principal you owe on time. Foreclosed property is often sold at auction to allow the lender to recover some or all of the outstanding debt.

A legal move to acquire possession of mortgaged property when the borrower is unable to pay off the loan or make payments according to the conditions of the loan. In other words, if you can't mak [..]

The legal process by which a creditor with a claim (lien) on real estate forces a sale of the property in order to collect on the lien. Foreclosure typically begins when a homeowner falls behind on mo [..]

The legal process under which a creditor seizes the property of a borrower who has not made timely payments on his or her debt.

The process whereby a lender can claim the property used by a borrower to secure a mortgage and sell the property to meet the obligations of the loan.

Legal action instigated by a lender to end all ownership rights when mortgage payments have not been kept up.

The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.

Definition The legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds b [..]

The act of terminating the ownership of and equity in a piece of property due to lack of payment.

is the legal proceeding which follows after a borrower defaults on the mortgage. There are usually many attempts to help the borrower make repayment before they are taken to court to go through the fo [..]

1 : a legal proceeding that bars or extinguishes a mortgagor's equity of redemption in mortgaged real property see also deficiency judgment at judgment, redeem, right of redemption, statutory ...

A foreclosure is a legal proceeding in which a lender obtains title to the collateral the backed a defaulted loan. The lender then sells the collateral to pay off the debt. The term is most often used in reference to taking possession of a home that secured a defaulted mortgage.

The legal process by which a lender takes possession of a home when the homeowner has defaulted on the mortgage.

The process by which the trustee or servicer takes over a property from a borrower on behalf of the lender.

Seizure of COLLATERAL by a CREDITOR when DEFAULT under a loan agreement occurs.

Legal process by which the lender forces the sale of a property because the borrower has not met the mortgage terms.

A situation in which an owner is unable to make principal and/or interest payments on its mortgage; so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract. In some cases, to avoid foreclosing on a property, creditors try to make adjustments to the repayment schedule to al [..]

A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. See also General Mortgage Questions

The legal process by which a lender acquires possession of the property securing a mortgage loan when the borrower defaults. See Can a Mortgage Lender Profit From Foreclosure

a legal process in which mortgaged property is sold to pay the loan of the defaulting borrower. Foreclosure laws are based on the statutes of each state.

A legal process whereby a mortgage is terminated and possession of the property is taken over by the lender. Foreclosures usually occur for failure to make payments.

The legal process by which a property may be sold and the proceeds of the sale applied to the mortgage debt. Learn more...

The process by which a lender takes back a property on which the mortgagee had defaulted. A servicer may take over a property from a borrower on behalf of a lender. A property usually goes in to the p [..]

A legal process in which mortgaged property is sold to pay the loan of a defaulting borrower.

A legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, or deed of trust, by taking and selling the mortgaged property, and depriving the mortgagor o [..]

Legal process whereby a mortgage lender gains ownership of the real property securing a defaulted mortgage.

Lender legally takes possession of a mortgaged property when borrower is unable to make payments or meet obligations.

A legal action by which a borrower's rights to a mortgaged property are taken away when the terms of the loan have not been satisfactorily met. The property is then owned by the lender, typically [..]

It is a reposession of property by a legal process due to default on terms of mortgage by the borrower. This property is sold at a public auction, the proceeds of which are used to settle mortgage deb [..]

Foreclosure is the procedure by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), forces the sale of the real property to recover [..]

The legal process used to force the payment of debt secured by collateral whereby the property is sold to satisfy the debt.

Method of enforcing payment of a debt secured by a mortgage by seizing the mortgaged property. Foreclosure terminates all rights which the mortgagor has in the mortgaged property upon completion of due process through the courts.

When a homeowner becomes negligent on making mortgage payments, a forced sale of the property is involved.

the forced sale of property pledged as security for a debt that is in default.

Under the terms of your mortgage, it is a procedure done by your lender in which the rights and title of your home are taken so that the property can be sold. This occurs when you, the borrower, are in default. The sale of property is used to pay off the debt of your home.

(n) the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default

A proceeding, in or out of court, designed to extinguish all rights, title, and interest of the owner(s) of property in order to sell the property to satisfy a lien against it.

Foreclosure is a legal process where a mortgage lender takes possession of a mortgaged property because of the borrower’s failure to make payments on the mortgage.

The process whereby a lender can claim the property used by a borrower to secure a mortgage and sell the property to meet the obligations of the loan.

The legal procedure by which a mortgage holder can seize the property of a borrower who has not made required payments.

A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property.

A court proceeding upon default in a mortgage to vest title in the mortgagee. Franchise Law

The legal process under which a creditor seizes the property of a borrower who has not made timely payments on his or her debt.

n. ejecución hipotecaria

  The legal process used to force the payment of debt secured by collateral whereby the property is sold to satisfy the debt.

A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property.

A legal procedure whereby the lender obtains ownership of the property following default by the borrower by terminating all of the borrower's rights in the property covered by the mortgage.

A legal procedure whereby the lender eventually obtains ownership of the property after the borrower has defaulted on payments.

Legal process by which a mortgagor of property is deprived of his interest in the property because of failure to comply with the terms and conditions of the mortgage.

The legal process under which a creditor seizes the property of a borrower who has not made timely payments on his or her debt.

This entry describes the economics of foreclosure with respect to US residential mortgage markets from the perspective of both the borrower ...

A legal process which deprives a mortgagor of interest in property, usually as a result of failure to make mortgage, judgment, or tax payments.

A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage.

The legal process under which a creditor seizes the property of a borrower who has not made timely payments on his or her debt.

A foreclosure is the legal process by which a borrower losses their ownership interest in a collateralized property due to default on the attached loan.

n. the system by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), requires sale of the real property to recover the money due, un [..]

A legal proceeding in which the lender takes possession of a property and sells it at public auction if the homeowner neglects to make mortgage payments.

Seizure of collateral by a creditor when default under a loan agreement occurs.

Usually refers to the repossession of real estate. The legal process required to gain possession of a house when a specified number of mortgage payments have been missed and the client has not sold the house on his own.

Legal action available to the banking institution for recovering outstanding sums owed by a borrower who has defaulted on his/her loan. The property pledged by the borrower to secure the loan is sold and the proceeds of the sale used to settle the outstanding loan amount.

Legal action available to the Islamic banking institution for recovering outstanding sums owed by a customer who has defaulted on his/her financing. The property pledged by the customer to secure the financing is sold and the proceeds of the sale are used to settle the outstanding amount.

A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default.

The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction wi [..]

This basically means the lender takes back its house because you failed to keep up with mortgage payments. There are restrictions on foreclosures against active duty service members through the Servic [..]

The process through which a lender can sell or repossess (take ownership of) a property in order to recover the amount owed on a defaulted loan secured by the property.

A legal procedure in which property mortgaged as security for a loan is sold to pay the defaulting borrower's debt.

A legal action taken by a lender to take the collateral (e.g. a property) that secures the loan and to extinguish the rights of the borrower in the collateral.

A legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, or deed of trust, by taking and selling the mortgaged property, and depriving the mortgagor o [..]

Legal process by which a mortgagor of real property is deprived of his interest in that property due to failure to comply with terms and conditions of the mortgage.

Foreclosure designates the process activated by a creditor of a party in default to seek the sale of the assets received as security, in order to be reimbursed.

A legal remedy available to a mortgagee where there is default under any of the covenants in the mortgage. It deprives the mortgagor of their equitable right to redeem.

The legal process by which a borrower's interest in mortgaged property is taken because of a default on the loan. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.

Legal procedure in which property securing debt is sold by the lender to pay the defaulting borrower’s debt.

A legal action taken by a mortgagee to obtain possession of a property, by reason of the mortgagor's default in payment of the principal and or interest of the mortgage debt.

a legal process that deprives a mortgagor of his or her interest in a property because he or she has failed to comply with the terms of the mortgage.

The legal process in which a mortgagee forces the sale of a property to recover all or part of a loan on which the mortgagor has defaulted.

The transfer of legal and equitable title in mortgaged land to the mortgagee

A situation in which a homeowner is unable to make full principal and interest payments on his/her mortgage, which allows the lender to seize the property, evict the homeowner and sell the home, as st [..]

Process by which the holder of a mortgage seizes the property of a homeowner who has not made interest and/or principal payments on time as stipulated in the mortgage contract.

Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the co [..]

Foreclosure (also known as "foreclusion"; French: forclusion) is the English translation of a term that the French psychoanalyst Jacques Lacan introduced into psychoanalysis to identify a specific psy [..]