nonforeclosed
Nonforeclosed is an adjective used to describe a loan, mortgage, or property that has not undergone the foreclosure process. In real estate and financing contexts, a loan may be in default or delinquent, but if foreclosure proceedings have not been initiated or completed, the loan is considered nonforeclosed. The status can occur during pre-foreclosure negotiations, such as discussions about loan modification, forbearance, or other alternatives to foreclosure.
In practice, nonforeclosed loans keep ownership with the borrower and retain the lender’s lien on the property.
The term can also appear in real estate listings or market analyses to distinguish properties that have
See also: foreclosure, delinquency, forbearance, loan modification, short sale, REO.