Eviction vs. Foreclosure

Evictionnoun

The act of evicting.

Evictionnoun

The state of being evicted.

Evictionnoun

The act or process of evicting; or state of being evicted; the recovery of lands, tenements, etc., from another's possession by due course of law; dispossession by paramount title or claim of such title; ejectment; ouster.

Evictionnoun

Conclusive evidence; proof.

Evictionnoun

action by a landlord that compels a tenant to leave the premises (as by rendering the premises unfit for occupancy); no physical expulsion or legal process is involved

Evictionnoun

the expulsion of someone (such as a tenant) from the possession of land by process of law

Eviction

Eviction is the removal of a tenant from rental property by the landlord. In some jurisdictions it may also involve the removal of persons from premises that were foreclosed by a mortgagee (often, the prior owners who defaulted on a mortgage).

Foreclosurenoun

(legal) the proceeding, by a creditor, to regain property or other collateral following a default on mortgage payments

Foreclosurenoun

(psychoanalysis) The absence of a symbolic father for a fatherless child, as a cause for psychosis.

Foreclosurenoun

The act or process of foreclosing; a proceeding which bars or extinguishes a mortgager's right of redeeming a mortgaged estate.

Foreclosurenoun

the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default

Foreclosure

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 collateral for the loan.Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt.