Browse:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z 

Delinquent Mortgage

Delinquent Mortgage Definition

Delinquent Mortgage or late mortgage describes a mortgage for which the borrower has failed to make a required payment on time. A mortgage is considered delinquent when a scheduled payment is not made on the due date. Usually there is a late fee applied to a delinquent payment. The amount of the fee is dependent upon the terms of the mortgage contract. If the debtor is not able to bring the payments current, the lender may initialize foreclosure proceedings.

RELATED TERMS
Delinquent
RELATED CATEGORIES
Real Estate




Submit a Definition



Ask a Question

Learn the famous formula for money-making, based upon the THIRTEEN PROVEN STEPS TO RICHES! Get your FREE Copy & Instant Access to Think and Grow Rich by Napoleon Hill just by signing up.
 
   
Newsletter cover
Browse:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z