The phrase "potential foreclosure" means that there is a possibility that someone may lose their home because they are unable to make their mortgage payments. Full definition
Those include the need for settlement conferences in potential foreclosures to see if the problems can be resolved. (timesunion.com)
At a time when the Museum was in default on its loan covenants, and was facing potential foreclosure, Chevrolet introduced the new C5 Corvette on January 6th, 1997 and the Museum was selected to be a satellite location for the special viewing. (corvetteblogger.com)
Potential foreclosure of the home if the borrower does not meet the ongoing obligations of the loan such as paying property taxes, homeowner's insurance or other required property charges, and must maintain the property per HUD requirements. (debbielovett.myloanofficer.us)