Real Estate Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Definitions of Foreclosure

  • The process by which a bank, or other party that has interest in a property, transfers the title of real property used as security for a debt as a means of paying off the debt by the involuntary sale of the property. This definition of Foreclosure contributed by indy-realtor.
  • A proceeding in which the financer of a mortgage seeks to regain property because the borrower has defaulted on payments.

Back to Glossary

Related Terms

Mortgage
Security
Title