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

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personifeiffkx2 personifeiffkx2
  • 24-10-2019

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.

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