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5 Cards in this Set

  • Front
  • Back
money burden on one's property
Lien
evidence of a debt (what the lender sues the borrower on when the loan is in default)
Note
borrower is late on a payment
Default
legal proceeding used by the lender to take the collateral when the loan is in default
Foreclosure
the thing the lender uses as security for the loan (house)
Collateral