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Foreclosure – This is a authorized process in which collateral which has been pledged for any loan is often sold in an effort to repay the loan if the borrower defaults.

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FDIC or Federal Deposit Coverage Company – Ordinarily a federal company which insures a consumer’s deposit in their financial savings and for any loan of approximately $one hundred,000 For each account. These deposits will incorporate personal savings and checking accounts and in addition deposit certificates.