.png){kind=small}
Back to Glossary
Delinquency
Updated
January 19, 2023
When a borrower fails to make the required payments, the mortgage becomes delinquent. If the borrower continues to fall behind on payments, the lender may foreclose on the property and reclaim it from the borrower. Other methods for resolving the borrower's delinquency exist, such as altering the loan to make it easier to make payments.
