foreclosure

(noun)

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

Related Terms

Examples of foreclosure in the following topics:

  • Secured vs. Unsecured Funding

    • Seizure of real estate for non-payment is also known as foreclosure.
    • A foreclosure is a legal process in which mortgaged property is sold to pay the debt of the defaulting borrower.

  • Trends in Credit After 2008

    • This can result in widespread foreclosure or bankruptcy for those investors and entrepreneurs who came in late to the market, as the prices of previously inflated assets generally drop precipitously.

  • The State of the Economy

    • Foreclosures grew, and panic followed.