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The Epic Interactive Encyclopedia 1998
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Epic Interactive Encyclopedia, The - 1998 Edition (1998)(Epic Marketing).iso
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Foreclosure
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INFOTEXT
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1992-09-04
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330b
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A foreclosure in law, is the transfer of
title of a mortgaged property from the
mortgagor (borrower, usually a home owner) to
the mortgagee (loaner, for example a bank),
if the mortgagor is in breach of the mortgage
agreement, usually by failing to make a
number of payments on the mortgage (loan).
Subject by: Andrew Row