mortgage default
[/ˈmɔːrɡɪdʒ dɪˈfɔːlt/]
nounpl: mortgage defaults
inadimplência hipotecária
1. failure to make required mortgage payments on time, typically resulting in legal action by the lender
The homeowner faced a mortgage default after losing his job and missing three consecutive payments.
O proprietário enfrentou uma inadimplência hipotecária após perder o emprego e deixar de fazer três pagamentos consecutivos.
2. the legal status of a borrower who has breached the terms of a mortgage agreement
Once in mortgage default, the bank began foreclosure proceedings.
Uma vez em inadimplência hipotecária, o banco iniciou procedimentos de execução hipotecária.
3. a breach of the mortgage contract that may lead to loss of the property
Mortgage default can result in foreclosure and severe damage to credit scores.
A inadimplência hipotecária pode resultar em execução hipotecária e danos graves à pontuação de crédito.
Mortgage default became particularly significant in both the USA and Brazil following the 2008 financial crisis. In the USA, it's a critical concept in real estate law and personal finance. In Brazil, mortgage defaults are regulated by specific laws and often involve negotiations with banks (Caixa Econômica Federal being a major lender). The term reflects the importance of homeownership in both cultures and the serious legal consequences of non-payment.
NYC Slang
going into default on your mortgage; losing your pad to the bank
Look up more words on Fala2Me
The free English-Portuguese dictionary with real Brazilian accents, NYC slang, conjugator and more
Open Fala2Me →