The building society will be forced to foreclose on this mortgage because regular payments have not been made.
Senior bondholders, who are owed around $3 billion, objected: they wanted to foreclose on the property and sell it off in order to recoup their money.
About three or four nights every week, peasant debtors, bearing gifts of meat and wine, would feast the principal in the school rooms, trying to persuade him not to foreclose on their land.
Creditors with secured claims can foreclose upon (seize title to) these assets if the borrower defaults.
"I suspect the bank wanted to foreclose because we were so near to paying off the mortgage," says Mark.
Few lenders want to foreclose, a process that takes ages, incurs massive costs and often causes the departing residents to trash the house. It is better to agree on a quick sale.
Increasingly severe shortage and squander of water resources will foreclose continuable utility and restrict economic development.
Why would you make a loan if you weren't even sure that, if the guy defaulted, you could at least foreclose?
They tried to foreclose the possibility of his meeting with the chairman.
When they failed to repay the losses, Citizens reported their personal account as delinquent to credit bureaus, and six months after the theft threatened to foreclose on their home.
Finally, consistent with the reason why lenders prefer IOs, these mortgages are more likely to be repaid earlier or foreclose.
That's a lot of work to foreclose on an 8,000-mile-in-diameter ball of molten iron and rock.
More bad news for Dr. Conrad Murray — the bank is trying to foreclose on his Las Vegas home … the one that was filled with DEA agents yesterday.
If you don't, the lender will foreclose on the home.
His business is foreclose.
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