Foreclosure - FCL

What Does Foreclosure - FCL Mean?
A situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.

Investopedia explains Foreclosure - FCL
In some cases, to avoid foreclosing on a home, creditors try to make adjustments to the repayment schedule to allow the homeowner to retain ownership. This situation is known as a special forbearance or mortgage modification.

Filed Under: Acronyms, Real Estate

Related Terms

Creditor
Deliquent Mortgage
Forbearance
Interest
Jingle Mail
Judicial Foreclosure
Mortgage
Mortgage Forebearance Agreement
Short Refinance
Variable Interest Rate
More Related Terms

Related Links

Saving Your Home From Foreclosure - Learn the tactics you can use to prevent your home from being repossessed.
Foreclosures: Bargains Or Money Pits? - Find out if the house you're eyeing is really a good deal.
Foreclosure Investing Not A Get-Rich-Quick Venture - Investing in this kind of real estate takes capital, time and careful planning.
Short Sales And Foreclosures: When It's Time To Move On - Sometimes it's better to cut your losses, but foreclosures and short selling can have devastating impacts on your credit score.
Find The Best Mortgage Rates - Search and compare the best fixed and adjustable mortgage rates in your area with Bankrate.com. Click Here!
Foreclosure Opens Doors For Real Estate Investors - Learn how to spot hot properties that you can turn around for a profit.
Who Is To Blame For The Subprime Crisis? - From lenders to buyers to hedge funds, it appears everyone has blood on their hands.
Why Housing Market Bubbles Pop - Home price appreciation is not assured. Can you withstand the volatility in this market?
Are You Living Too Close To The Edge? - If a missed paycheck will make your finances cave in, you must learn how to make proper supports.
Real Estate Articles at Forbes.com - Find out the latest real estate trends and news at Forbes.com
What is foreclosure investing?
Battling Foreclosure: The HOPE NOW Alliance Strategy - Hope Now was formed to help prevent foreclosures. Are the organization's strengths enough to overpower its weaknesses?
Things To Know About The Home Modification Plan - This program allows FHA borrowers to reduce monthly mortgage payments through negotiation with lenders.

Rate this Term: Your Rating: Overall Rating: Vote Now!