foreclosure foreclosure  /fɔr ˈkloʊ ʒər/

Definition(s):

  • (n) the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default

Usage(s):

  1. Ron Faris, president of the loan servicer Ocwen, tosses a foreclosure sign.
  2. In America's foreclosure capital, opportunity and the lure of the infinity pool trumps fear.
  3. Joe Raedle Getty But the city of 110,000 people just north of Miami is staring at another figure today: a 13% home-foreclosure rate.

News

  1. Foreclosure University Announces New Transactional Funding For Real Estate Investors

    Whether it's short sales, reo's, or wholesale deals, Foreclosure University announces that they have transactional funding for investors. Transactional funding can be used on any back to back closing in all 50 states. (PRWeb June 12, 2013) Read the full story at http://www.prweb.com/releases/transactional/funding/prweb10824850.htm
    on June 12, 2013     Source: PRWeb

  2. State Senate OKs foreclosure package, redemption period unchanged

    The state Senate approved a foreclosure legislation package Tuesday that doesn't shorten the redemption period from six months to 60 days, a response to strong opposition from some real estate agents and advocacy groups.
    on June 12, 2013     Source: Detroit News

  3. Florida Foreclosure Bill Signed Into Law

    A foreclosure bill emerged from Florida 's legislature and found its way to the governor's desk. The new law expedites foreclosures on abandoned properties and reduces the window of time for lender to obtain a deficiency judgment.
    on June 11, 2013     Source: HispanicBusiness.com

Quotes

  1. "I think that when you look at how we have handled the home foreclosure situation and whether we've done enough in terms of helping families on the ground who may have lost their homes because they lost their jobs or because they got sick, we...
    on Jan 10, 2009 By: Barack Obama Source: International Herald Tribune

  2. "The blatant actions of First American and eAppraiseIT have contributed to the growing foreclosure crisis and turmoil in the housing market. By allowing Washington Mutual to hand-pick appraisers who inflated values, First American helped set the...
    on Nov 1, 2007 By: Andrew Cuomo Source: Boston Herald

  3. "High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets and the broader economy," Bernanke said in a dinner speech to Columbia Business School in New York.
    on Mar 14, 2008 By: Ben Bernanke Source: KTAR.com

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