When a homeowner can't afford to pay her mortgage, she might face foreclosure, which is when a bank repossesses a borrower's house.
The act or process of foreclosing; a proceeding which bars or extinguishes a mortgager's right of redeeming a mortgaged estate.
Noun
the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
n.
The act or process of foreclosing; a proceeding which
bars or extinguishes a mortgager's right of redeeming a mortgaged
estate.
Foreclosure
The act or process of foreclosing; a proceeding which bars or extinguishes a mortgager's right of redeeming a mortgaged estate.
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