foreclosure

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foreclosure

The depriving of the right to a property by legal transfer of title, esp. because of failure to maintain mortgage payments.
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References in periodicals archive ?
The US Department of Housing and Urban Development (HUD) has launched a new program to help homeowners avoid forclosure.
Florida lawyers are now available to assist homeowners facing forclosure.
In December, the sixth tranche by the ESM for e1/4350 mln was disbursed as part of the e1/410 bln bailout plan, while the IMF's contribution of e1/486 mln was suspended due to parliament's stalling on a crucial forclosures bill that would help banks recover assets and reduce the level of high-risk non-performing loans, presently at 50% of the national loanbook.