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 ?
The threshold issue in a voluntary reconveyance, foreclosure or abandonment is determining whether a taxable event has occurred.
Foreclosure statistics in the boroughs varied widely year-over-year.
While many homeowners who receive a recorded mortgage default notice don't know what to do, real estate agents are now seeking advanced training on how to help homeowners avoid foreclosure by listing the "upside-down" property for sale and negotiating a discount or a short payoff on the mortgage with the lenders.
foreclosure numbers climbed steadily over the course of the year, with more new foreclosures reported in every quarter," said James J.
7 begins discussion of the in-substance foreclosure issue by indicating a creditor should determine if an in-substance foreclosure has occurred when it is probable the creditor will not receive all the promised payments on the collateralized loan.
States with the smallest increases in foreclosure volume included Rhode Island (eight active and pending foreclosures; two new foreclosures), Vermont (26 active and pending foreclosures; six new foreclosures), Hawaii (29 active and pending foreclosures; 10 new foreclosures), New Hampshire (47 active and pending foreclosures; 14 new foreclosures) and Alaska (61 active and pending foreclosures; 19 new foreclosures).
This lease was executed long before the foreclosure action and although it was a term of 15 years, it was not recorded.