Repossession refers to the process by which a lender takes back property that was used as collateral for a loan, when the borrower fails to make payments or otherwise defaults on their obligations. Full definition
Treasury chief secretary Yvette Cooper has called for a halt in repossessions of properties by banks in the instance of default by mortgage holders. (politics.co.uk)
The housing market recovery remained gradual, with home sales slowly rising in October, while bank repossessions of properties dropped in November. (chicagotribune.com)
Texas Car Repo: Whether a car repossession in Texas is voluntary or involuntary, there are certain procedures that must be followed after the bank or finance company repos a car. (rebuildcreditscores.com)