repossess

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repossess

v. to take back property through judicial processes, foreclosure, or self-help upon default in required payments.

repossess

verb capture, foreclose, obtain again, reacquire, recall, recapture, reclaim, recoup, recover, regain, replevy, retrieve, secure, seize, take back, take possession of
Associated concepts: attachment, security interest
See also: reclaim, recoup, recover, redeem

repossess

to take back possession of property, especially for nonpayment of money due under a hire-purchase agreement. The right is circumscribed in many systems.
References in periodicals archive ?
Some 21,000 repossessions took place in the UK 2014, a 26% fall on the previous year, as low interest rates and cheap mortgage deals helped to cushion households from getting into financial dif-ficulty.
Social Development Minister Nelson McCausland has set up a housing repossessions taskforce to investigate the issue of negative equity and repossessions in Northern Ireland.
It really is not too hard to predict whether repossessions will increase," said Dave Langley, vice president of operations at AFG.
The body, whose members include banks and building societies, has said it does not expect to see a significant change in the outlook for mortgage arrears and repossessions over the next two years.
The group has been established by Housing Minister Nelson McCausland to investigate the issue of negative equity and repossessions in Northern Ireland.
While repossessions ticked up slightly in the first three months of the year to 8,000 from 7,700 in the previous quarter, it was the secondlowest quarterly figure since the winter of 2007.
United Left Alliance TD Joan Collins criticised the move saying proposals to tackle mortgage arrears promised repossessions would be a last resort.
A year ago, only 38 of the 175 homes that received some sort of foreclosure filing were bank repossessions.
A total of 8,200 properties were repossessed in the third quarter of this year, down from 8,500 over the summer and marking the lowest number of repossessions seen in a single quarter since 2007, the Council of Mortgage Lenders (CML) said.
There were 8,500 repossessions between April and June this year, marking the lowest quarterly total since the last three months of 2010, the Council of Mortgage Lenders (CML) said.
Analysis by the homelessness charity Shelter has revealed the region is a hotspot for repossessions.
Bank repossessions, or REOs, also declined by 24 percent in New York City and by 2 percent in the state over the same time period.