foreclosure – מילון אנגלי-אנגלי
foreclosure
n.
taking away of the right to redeem his property; hindering; shutting out; closing or settling beforehand
Foreclosure
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
collateral for the loan.
foreclosure
Noun
1. the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
(hypernym) proceeding, legal proceeding, proceedings
(derivation) foreclose
Foreclosure
Process by which the holder of a
mortgage seizes the property of the homeowner who has not made
interest and/or
principal payments on time as stipulated in the
mortgage contract.
Foreclosure
The technical meaning of the word is to wipe out a right of redemption on a property. Generally, this is what happens when someone does not pay their mortgage. Even though there has been no payments, the borrower retains a equitable right of redemption if, some day, he or she were able to find the money and try to exercise their right of redemption. - (
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