Repossession

From ACT Wiki
Jump to navigationJump to search
The printable version is no longer supported and may have rendering errors. Please update your browser bookmarks and please use the default browser print function instead.

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