Definition of To foreclose a mortgage. Meaning of To foreclose a mortgage. Synonyms of To foreclose a mortgage

Here you will find one or more explanations in English for the word To foreclose a mortgage. Also in the bottom left of the page several parts of wikipedia pages related to the word To foreclose a mortgage and, of course, To foreclose a mortgage synonyms and on the right images related to the word To foreclose a mortgage.

Definition of To foreclose a mortgage

To foreclose a mortgage
Mortgage Mort"gage, n. [F. mort-gage; mort dead (L. mortuus) + gage pledge. See Mortal, and Gage.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made. Note: It was called a mortgage (or dead pledge) because, whatever profit it might yield, it did not thereby redeem itself, but became lost or dead to the mortgager upon breach of the condition. But in equity a right of redemption is an inseparable incident of a mortgage until the mortgager is debarred by his own laches, or by judicial decree. --Cowell. Kent. 2. State of being pledged; as, lands given in mortgage. Chattel mortgage. See under Chattel. To foreclose a mortgage. See under Foreclose. Mortgage deed (Law), a deed given by way of mortgage.
To foreclose a mortgage
Foreclose Fore*close", v. t. [imp. & p. p. Foreclosed; p. pr. & vb. n. Foreclosing.] [F. forclos, p. p. of forclore to exclude; OF. fors, F. hors, except, outside (fr. L. foris outside) + F. clore to close. See Foreign, and Close, v. t.] To shut up or out; to preclude; to stop; to prevent; to bar; to exclude. The embargo with Spain foreclosed this trade. --Carew. To foreclose a mortgager (Law), to cut him off by a judgment of court from the power of redeeming the mortgaged premises, termed his equity of redemption. To foreclose a mortgage, (not technically correct, but often used to signify) the obtaining a judgment for the payment of an overdue mortgage, and the exposure of the mortgaged property to sale to meet the mortgage debt. --Wharton.

Meaning of To foreclose a mortgage from wikipedia

- keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory...
- other obligation in order to redeem the mortgage. If the borrower fails to meet these conditions, the mortgagee may foreclose to recover the outstanding...
- countries, the ability of lenders to foreclose is extremely limited, and mortgage market development has been notably slower. A study issued by the UN Economic...
- ****ociated with mortgage notes are very similar to those of bonds: credit risk, i.e., the risk that the borrower will default You will foreclose and get your...
- Mortgage underwriting is the process a lender uses to determine if the risk (especially the risk that the borrower will default ) of offering a mortgage...
- A mortgage servicer is a company to which some borrowers pay their mortgage loan payments and which performs other services in connection with mortgages...
- customers making payments on a mortgage they no longer had and foreclosed on borrowers after promising it would not foreclose. "Mr Cooper Group Inc: Overview"...
- each such mortgage (or deed of trust) be recorded in the local county courts in order to preserve certain rights (e.g., the right to foreclose non-judicially)...
- The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global...
- balance. A nonrecourse mortgage is secured only by the commercial property that serves as collateral. In an event of default, the creditor can foreclose on...