From ACT Wiki
Revision as of 22:14, 14 August 2021 by Doug Williamson (Talk | contribs) (Add definition. Source: Linked pages)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

1. Secured lending.

In residential mortgage lending, 'repossession' is a colloquial term meaning foreclosure by the lender.

2. Secured lending.

More broadly - and colloquially - any situation in which assets serving as collateral for a loan are retained or seized by the lender.

See also