Collateralize refers to the action of pledging assets to secure a debt in the USA. If the borrower defaults on the terms and conditions of the agreement, the pledged assets will be forfeited.
Forbearance is a situation where a lender decides not to exercise its legal right to foreclose on a property when a borrower defaults. Instead, the lender opts to renegotiate the terms of the loan to offer temporary relief to the borrower.
An overview of the legal process where a lender seeks to recover the balance of a loan from a borrower who has stopped making payments by forcing the sale of the property used as collateral for the loan.
