foreclosure
Sign in to saveAlso known as forced sale, compulsory auction
thumb|House in Salinas, California, under foreclosure, following the bursting of the [[2000s United States housing bubble.]]
~44 min read
Encyclopedic overview
34 sectionsContents
- Types
- Judicial
- Nonjudicial
- Strict
- Acceleration
- Process
- Strict and judicial
- Nonjudicial
- Defenses
- Equitable foreclosure
- Title search and tax lien issues
- Contesting a foreclosure
- Foreclosure auction
- Further borrower's obligations
- Renegotiation alternative
- Experiences of households post-foreclosure
- Affected demographics
- Recent trends
- Impact of foreclosure
- By country
- Australia and New Zealand
- Ireland
- People's Republic of China
- Mortgages and foreclosure
- Philippines
- Spain
- South Africa
- Switzerland
- United Kingdom
- Canada (Alberta)
- See also
- References
- Further reading
- External links
thumb|House in Salinas, California, under foreclosure, following the bursting of the [[2000s United States housing bubble.]]
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
Excerpted from Wikipedia’s “foreclosure” article, available under the CC BY-SA 4.0 licence.