Foreclosure

Language: English

Pronunciation: fore-clos-ure

Part of Speech: noun

Defined Definitions

The proceeding, by a creditor, to regain property or other collateral following a default on mortgage payments

User Defined Definitions

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

Author: WordNet Upvotes: 0 DownVotes: 0

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