When a creditor makes attempts to get the money owed on a debt

If you are past due on your monthly mortgage payments, a lender will make every effort to collect on the money that you owe. If this fails, the lender will be forced to start the foreclosure process, and sell your home in order to repay the loan. This happens only .2% of the time, and only a small percentage of owners lose their property.

See: Foreclosure