Foreclosure and Payment system: Difference between pages

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''Secured lending''
A set of instruments, banking procedures and, typically, interbank funds transfer systems that facilitate the circulation of money.
 
Foreclosure is the process in secured lending which may follow default by the borrower.
 
In foreclosure, the lender takes possession of an asset or assets used to secure the borrowing, often going on to sell them to raise money to discharge the unpaid borrowing, in part or in full.
 
 
In residential mortgage lending, foreclosure is often known colloquially as 'repossession' of the mortgaged residential property.




== See also ==
== See also ==
* [[Charge]]
* [[Interbank Funds Transfer System]]
* [[Fixed charge]]
* [[Forbearance]]
* [[LTV]]
* [[Mortgage]]
* [[Repossession]]
* [[Security]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 11:16, 22 June 2016

A set of instruments, banking procedures and, typically, interbank funds transfer systems that facilitate the circulation of money.


See also