Delinquent Mortgage

A mortgage that involves a borrower who is behind on payments. If the borrower cannot bring the payments up to date within a specified number of days, the lender may begin foreclosure proceedings.

Related Terms:

1. Top 20 Real Estate Foreclosure Markets, Mid-Year 2007
2. U.S. Real Estate Foreclosures Increase Nationwide
3. Acceleration Clause
4. Balloon (Loan) Mortgage
5. Default