Foreclosure Hotlist

Foreclosure is the official and professional [proceeding, occurrence, event] in which a mortgagee, or other lien holder, usually a creditor or bank obtains a court ordered dissolution, of a mortgagor's equitable right of redemption. [Usually, Typically, Frequently, Habitually] a lender obtains a security interest from a borrower who mortgages or pledges an property like a house to secure the loan. If the borrower defaults and the lender will try to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt.