Bankruptcy
Fannie Mae
Updated 10-31-2026
Bankruptcy
A legal proceeding in federal court in which a debtor seeks to restructure their obligations to creditors pursuant to the Bankruptcy Code. This generally affects the borrower's personal liability for a mortgage debt, but not the lien securing the mortgage.
Fannie Mae Glossary of Terms
Fannie Mae · p. 4
FreddieMac
Updated 10-31-2026
Bankruptcy
Legally declared unable to pay your debts. Bankruptcy can severely impact your credit and your ability to borrow money.
FreddieMac Glossary
FreddieMac · p. 3
FTC
Updated 10-31-2026
Bankruptcy
Legally declared unable to pay your debts. Bankruptcy can severely impact your credit and your ability to borrow money.
FTC Real Estate Terms
FTC · p. 2
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