Difference between revisions of "Enforcement"
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== See Also == | == See Also == | ||
* [[Foreclosed Asset]] | * [[Foreclosed Asset]] | ||
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* [[NPL Glossary]] | * [[NPL Glossary]] | ||
* [https://en.wikipedia.org/wiki/Foreclosure Wikipedia Entry] | * [https://en.wikipedia.org/wiki/Foreclosure Wikipedia Entry] | ||
Latest revision as of 15:44, 6 May 2021
Definition
Enforcement is one possible end-state in a lending relationship where a lender attempts via a legal process (in court) to recover balances of loans extended to a borrower who has stopped making payments. The main mechanism for recovery is the forced sale of the asset that used as the collateral for the loan.
The term is more general than Foreclosure, which is used typically in the context of Morgtage Finance (where the Collateral to the loans is Real Estate)
