foreclosure


Also found in: Dictionary, Thesaurus, Legal, Financial, Acronyms, Wikipedia.

foreclosure

The depriving of the right to a property by legal transfer of title, esp. because of failure to maintain mortgage payments.
References in periodicals archive ?
Illinois was the only state among the top 10 states in terms of total foreclosure filings that registered a month-to-month increase in foreclosure activity in September.
Manhattan had the highest average lien per property in foreclosure at $330,728.
With one new foreclosure filing for every 430 households, Nevada posted the nation's second highest state foreclosure rate for the third straight month.
The dynamic that plays out with foreclosure rescue schemes is a result of that.
The company tracks properties in all phases of foreclosure.
I have spoken with lenders who told me that more than half the people who go into foreclosure never respond to letters from the lenders, nor do they contact the lenders themselves.
The mortgagee may add the cost of minor capital improvements to the basis of property received through voluntary reconveyance, foreclosure or abandonment, if all such improvements made to a particular property are treated in the same manner.
The California foreclosure laws are very protective to borrowers.
On average, judicial states start the foreclosure process after 12 months of delinquency--not all that different from non-judicial states, which start after 11 months.
A number of foreclosure statistics are reported by private firms and associations in the United States.
Looking closer at how state completed foreclosure numbers stack up month-to-month and against the national monthly high hit in September 2008:
Completed foreclosures are an indication of the total number of homes actually lost to foreclosure.