Foreclosure
Videos
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
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
During the 2000s, United States housing prices experienced a sharp run up and subsequent collapse affecting over half of the U.S. states. In many regions, a real estate bubble was the impetus for the
Foreclosure
…liens resulting from other loans against the property being foreclosed (second mortgages, HELOCs) are "wiped out" by foreclosure. In the wake of the United States housing bubble and the subsequent subprime mortgage crisis there has been increased interest in renegotiation or modification of the mortgage loans rather than…
Bank run on the U.K.'s Northern Rock Bank by customers queuing to withdraw savings in a panic related to the U.S. subprime crisis