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When it comes to hiring in the small business:
Equity Of Redemption
The right of a mortgagor to reclaim property by paying off the full amount of the mortgage plus any accrued interest and costs before foreclosure.
Home Equity Loan
A line of credit made available to homeowners based on the value of the property over and above any existing mortgages.
Court Action
Legal proceedings initiated in a court of law where a plaintiff brings a lawsuit against a defendant.
Repossessed
The act of a lender taking back an object, typically a vehicle or property, from the borrower due to failure to make the agreed-upon payments.
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