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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.
Security Interest
A security interest is a legal right granted by a debtor to a creditor over the debtor's property to secure the repayment of a debt.
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