Concept information
Preferred term
foreclosures
Definition(s)
- Residential foreclosures occur when homeowners with mortgages default on their loans and lenders choose to exercise their collateral claim on the home. The U.S. foreclosure rate increased dramatically in the late 2000s as a result of high rates of subprime lending during the earlier part of the decade. [Source: The Encyclopedia of Housing; Foreclosures]
Broader concept(s)
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-ZV49RRFD-Z
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