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Alborosie
3 years ago
7

If a lender is not paid and they take the collateral that secured the loan, this is called

History
1 answer:
sveta [45]3 years ago
5 0

Answer:

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.

Explanation:

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