Collateral (finance)
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In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. The collateral serves as a lender's protection against a borrower's default an
Pawning is an example of a common type of loan secured with collateral
Foreclosure
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Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the co
Collateral (finance)
…of the loan serves as collateral. If the buyer fails to repay the loan according to the mortgage agreement, the lender can use the legal process of foreclosure to obtain ownership of the real estate. If a second mortgage is involved the primary mortgage loan is repaid first with the remaining funds used to…
House in Salinas, California, under foreclosure, following the bursting of the 2000s United States housing bubble.
Notices accumulate on the door and window of a foreclosed, unoccupied house.
Microcosm of London Plate 006 Auction Room, Christie's