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Foreclosure

The legal process that begins when a borrower fails to make payments to a lender on a mortgaged property. Should the borrower not be able to correct the default, the property will be sold at public auction to satisfy the debt.

See also:
  • Fair Credit Reporting Act
  • Fair Market Value
  • Fannie Mae
  • Fannie Mae`s Community Home Buying Program
  • Farm Home 100% loan
  • Federal Home Loan Mortgage Corporation
  • Federal National Mortgage Association
  • FHA
  • FHA 203b
  • FHA 203k
  • FHA Futures
  • FHLMC
  • Fiduciary
  • First Mortgage
  • First Right Of Refusal
  • Fixed Rate Mortgage
  • Flood Insurance
  • FNMA
  • FNMA
  • Forbearance
  • Foreclosure

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