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foreclosure in law, 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. state by state foreclosure laws foreclosures what is a foreclosure? a foreclosure is a legal action that permits a lender to acquire ownership and title from a delinquent.
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foreclosure: a legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, government debt management or deed of trust, by taking and selling the mortgaged.
foreclosure services avoiding mortgage foreclosure while helping others avoiding mortgage foreclosure while helping others as previously explained, lend a helping hand s. foreclosure is a legal term, and it describes legal steps initiated by a bank, mortgage lender or any other secured creditor to take possession of a real property financed by it..