In this legal process, where a lender can sell an asset that is used as collateral in a loan in order to recover the money owed by the debtor after they have defaulted. When a debtor takes out a loan, they may be asked to put up collateral in order to protect the lender in case of a default.
Foreclosure
In this legal process, where a lender can sell an asset that is used as collateral in a loan in order to recover the money owed by the debtor after they have defaulted. When a debtor takes out a loan, they may be asked to put up collateral in order to protect the lender in case of a default.
