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LendingRisk.com Mortage Industry Dictionary

Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.

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Foreclosure (Repossession)

A legal process in which the lender forces a sale of real estate because the borrower has not met the terms of the mortgage. Typically, the terms of the mortgage that are not met is the mortgage payment.
See Default
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Terminology, definitions, terms, explanations, and documents for business professionals in the mortgage lending and mortgage risk management industries.