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Defaulted
Refers to failing to fulfill a legal obligation, especially failure to pay a debt or appear in court as required.
Foreclosed
The legal process by which a lender takes possession of a property due to the borrower's failure to pay the mortgage.
Improvements
Enhancements or upgrades made to a property or a product, increasing its value or functionality.
Mortgagees
Banks or other financial institutions that lend money to borrowers (mortgagors) for the purchase of property, holding a lien on the property as security for the repayment of the loan.
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