Outrageously Funny Word Dictionary :: Nonforeclosure

👉 Nonforeclosure is a legal concept in the United States that refers to a situation where a borrower has not paid their mortgage or any other debt, and the lender does not have the right to foreclose on their property. This means that if the borrower defaults on their loan payments, the lender may be able to foreclose on the property and take it back from the borrower.

nonforeclosure