Foreclosure: Canada Debt .ca defines Foreclosure

Bankruptcy Term Foreclosure

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Canada Debt has the definition to the bankruptcy and debt term Foreclosure. Finding answers to terms such as Foreclosure can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Foreclosure in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Foreclosure' is used as follows:

That action that a lender will take to repossess and sell a piece of property for defaults in mortgage payments.