Business terms and jargon explained. Your business dictionary

What is Foreclosure

This is the process of selling a property that is the collateral for a loan in default. Most large loans have assets used as security for a loan which will be sold to off to pay the debt. After the debt and cost have been recovered from the sale then anything else is given to the was loan holder.

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Term created / updated 2017-08-24 15:53:49

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