foreclosing
Taking back mortgages
Foreclosing is the process of taking possession of a mortgaged property when the borrower fails to make payments.
Banks foreclose on homes, farms, and businesses.
The word extends to any act of preventing something from happening or ruling it out entirely: His abrupt departure foreclosed any possibility of reconciliation.
To foreclose on options is to eliminate them before they can be considered.
Secured home loan
- defaultPreset standard option
- lienClaim securing debt
- judgmentReasoned decision-making capacity
- evictionForced departure from rental
court · decree · summons · litigation · plaintiff · defendant · mortgagee · attorney
One owed money
- collateralSecurity for debt
- securityProtection from threat
- obligationRequired task or commitment
- arrearsOverdue financial obligations
default · delinquency · secured debt · unsecured debt · guarantee · recovery · charge-off · promissory note
Preset standard option
- lenderOne who loans money
- borrowerOne who takes temporarily
- delinquencyCriminal or neglectful behavior
- underwaterBelow the surface
equity · acceleration · judicial · nonjudicial · servicer · modification · forbearance · cure
Money owed another
- loanBorrowed money repaid later
- delinquencyCriminal or neglectful behavior
- defaultPreset standard option
- interestAttention, stake, or fee
principal · amortization · arrears · unpaid · overdue · secured · lender · borrower
Competitive public sale
- evictionForced departure from rental
- propertySomething owned or inherent
- homeownerProperty title holder
- trusteeOne managing another's assets
equity · distressed · short sale · bank-owned · bidder · redemption · title · appraisal
Removal from usual location
- dispossessDeprive of property
- vacateLeave a place empty
- oustRemove from position
- lockoutEmployer-imposed work stoppage
sheriff · homeless · relocation · tenant · rental property · housing · notice to quit · expulsion
State of being achievable
- opportunityFavorable circumstance for advancement
- alternativeAnother available choice
- choiceAct of selecting
- pathwayDesignated route for travel
avenue · decision · outcome · precluding · eliminating · preventing · ruling out · excluding
Pressure, mental or vocal
- anxietyPersistent apprehensive distress
- fearEmotional response to threat
- distressSevere anxiety or suffering
- uncertaintyState of being unsure
shame · displacement · upheaval · trauma · worry · desperation · helplessness · stigma
mortgage
Secured home loan
eviction · court · decree · summons · litigation · plaintiff · defendant · mortgagee · attorney · lawsuit
creditor
One owed money
- collateralSecurity for debt
- securityProtection from threat
- obligationRequired task or commitment
arrears · default · delinquency · secured debt · unsecured debt · guarantee · recovery · charge-off · promissory note · lien
default
Preset standard option
- lenderOne who loans money
- borrowerOne who takes temporarily
- delinquencyCriminal or neglectful behavior
underwater · equity · acceleration · judicial · nonjudicial · servicer · modification · forbearance · cure · redemption
debt
Money owed another
- loanBorrowed money repaid later
- delinquencyCriminal or neglectful behavior
- defaultPreset standard option
interest · principal · amortization · arrears · unpaid · overdue · secured · lender · borrower · liability
auction
Competitive public sale
- evictionForced departure from rental
- propertySomething owned or inherent
- homeownerProperty title holder
trustee · equity · distressed · short sale · bank-owned · bidder · redemption · title · appraisal · market value
displacement
Removal from usual location
- dispossessDeprive of property
- vacateLeave a place empty
- oustRemove from position
lockout · sheriff · homeless · relocation · tenant · rental property · housing · notice to quit · expulsion
possibility
State of being achievable
- opportunityFavorable circumstance for advancement
- alternativeAnother available choice
- choiceAct of selecting
pathway · avenue · decision · outcome · precluding · eliminating · preventing · ruling out · excluding · blocking
stress
Pressure, mental or vocal
- anxietyPersistent apprehensive distress
- fearEmotional response to threat
- distressSevere anxiety or suffering
uncertainty · shame · displacement · upheaval · trauma · worry · desperation · helplessness · stigma · grief
foreclosingrefinancing
Replacing a loan
reinstating · restructuring · lending · renewing · paying off
foreclosingopening up
Becoming less guarded
enabling · allowing · permitting · entertaining · considering
close, conclusion, exclude, disclose, closure, enclosure, recluse, preclude, seclude