noun
definition
The proceeding, by a creditor, to regain property or other collateral following a default on mortgage payments
definition
The absence of a symbolic father for a fatherless child, as a cause for psychosis.
Examples of foreclosure in a Sentence
Look into all your options and rights if you face foreclosure.
In fact, even if a lender has a policy of initiating foreclosures after a specific amount of time, the foreclosure process may not begin as scheduled if the lender is already backlogged with a large number of foreclosures.
A house foreclosure happens when an owner defaults on the mortgage payments for a property.
The most stressful time for a family can be the period preceding a possible foreclosure or business failure.
A foreclosure occurs when a homeowner is not able to meet the monthly financial obligation of the mortgage payment.
Although this fact will not in itself make the companies liable to any process of reorganization similar to that following insolvency and foreclosure of the American railway, it is probable that reorganization of some sort must nevertheless take place in Great Britain, and it may well be questioned whether the position of the transportation system of that country would not have been better if it had been built up and projected on the experience gained by actual earlier losses, as in the United States.
Interest only loans are not recommended by financial advisors for First Home Mortgages or buyers who are stretching to get their dream homes due to the risk of foreclosure.
The mortgage amount turning foreclosure into more people usually requires you.
If there is an impending foreclosure on your home, there are things you can do to prevent foreclosure.
However the sheer scale of the 33 grids is a massive foreclosure on didactics.
Foreclosure listings Foreclosures and Foreclosed Homes in the U.S. Free Cell Phones cell phone plans Free Zippo lighters Shop for genuine Zippo lighters.
After exhausting these resources, investigate foreclosure proceedings in your state.
Nowhere is this more true than when looking at a foreclosure.
The trustee handling the foreclosure sale will be able to tell you the minimum bid the lender is willing to accept.
Once you do that, make a bid at the foreclosure auction.
You could also turn in a sealed bid to the lender when the foreclosure sale wraps up.
Foreclosure auctions are the riskiest way to go, especially for novice buyers.
In the case of a mortgage, the house could enter foreclosure for nonpayment of the tax.
You can find out when these auctions are by checking a regional foreclosure list.
Foreclosure rates have doubled recently because of second and third mortgages and the environment of ever-lowering interest rates is gone.
This is an extreme measure that some clients may require, particularly if they are on the verge of bankruptcy, repossession, or foreclosure.
If you can't repay it for any reason you could face foreclosure.
Diamond is hoping to sell $250,000 worth of Screech faced t-shirts in order to avoid foreclosure.
Her Atlanta mansion had already been auctioned off after being lost to foreclosure.
The last thing you want to do is end up in foreclosure simply because you did not do enough research prior to making a home purchase.
Loans with adjustable rates have a higher foreclosure rate than loans with fixed rates.
This makes investment homes more prone to eventual foreclosure, statistically.
A great resource for more information on foreclosure home sales is the website for the U.S. Department of Housing and Urban Development.
Be realistic about how much you can afford to avoid foreclosure later.
However, the foreclosure rate has also been rising and reached as high as 46 percent in the past year.
Houses in foreclosure - or sitting empty and for sale by investors - can depress the value of other homes in the area.
Interest rates with these loans are usually lower than non-secured loans, but utilizing your equity means you put yourself at a risk for foreclosure if you don't make your monthly payments in a timely manner.
As people facing increasing ARM payments felt the consequences of being unable to refinance their homes, foreclosure rates began to climb drastically.
As large numbers of homes started going into foreclosure, property values dipped even further.
As the foreclosure rates on subprime mortgages continued to rise, the solvency of lenders specializing in subprime mortgages began to decline.
In mid-2007 foreclosure rates hit an all-time high as billions of dollars worth of subprime mortgages went into default.
Option One offers a comprehensive library of information online showcasing the various ways to avoid foreclosure and also explaining the foreclosure process.
Members of The Home Retention Team have extensive training and knowledge and work directly with borrowers in an attempt to keep homes out of foreclosure.
This program was enacted to encourage homeowners to focus on 30-year fixed rate mortgages instead of lower rate adjustable rate loans that were experiencing rising default and foreclosure rates.
People with recent foreclosures may be considered if they can prove extenuating circumstances caused the foreclosure.
Those who willingly let a foreclosure happen when they had the means to pay their mortgage will be denied.
This is one of the most important questions you can ask if you are facing foreclosure.
While the specifics of the process will vary from one state to the next, most states follow a relatively similar foreclosure timeline.
The foreclosure process is triggered when you default on one or more mortgage payments.
If the matter still cannot be resolved and you still can't pay up the defaulted amount then your lender will begin the foreclosure process.
The foreclosure laws of the state in which your property is located will determine the steps involved in the process from start to finish as well as the time period it will take for each step to be completed.
There are two types of foreclosure, which may vary from one state to the next.
This type of foreclosure process is initiated in a court of law with the lender's lawyers filing a document called Lis Pendens, which translates to "action pending."
This type of foreclosure begins non-judicially when the lender or the lender's trustee files and records a Notice of Default (NOD) with the county recorder's office.
The mortgage company will have foreclosure attorneys file a Lis Pendens or a Notice of Default (NOD) at the county court, depending on the type of foreclosure that is mandated within your state.