AFFIDAVIT - A written statement made under oath before an officer of the court or notary public.

AUTOMATIC STAY - A bankruptcy provision that stops any act that can be construed to be an act against the interests of the debtor or the debtor's property.

CERTIFICATE OF FORECLOSURE (Connecticut Only) - A document found on the land records which is evidence that a foreclosure has been completed and the mortgagee now owns the property.

CHAPTER 7 - Individual or business liquidation under Federal Bankruptcy Code.

CHAPTER 11 - Business reorganization under the Federal Bankruptcy Code.

CHAPTER 12 - Reorganization for farmers under the Federal Bankruptcy Code.

CHAPTER 13 - Relief available under the Federal Bankruptcy Code in which a debtor retains possession of his property while making payments to creditors under a court approved plan.

COLLATERAL ESTOPPEL - Prior judgment from a lawsuit between parties on a different cause of action that bars re-litigation of those matters in a subsequent lawsuit.

COMMITTEE OF SALE (Connecticut Only) - An attorney appointed by the Court to conduct the auction of the mortgaged property in a foreclosure action.

COMMON LAW - As distinguished from law created by legislatures (statutory law), the common law is that law which is founded in ancient customs and practices as interpreted by the Courts.

CONFIRMATION HEARING (BANKRUPTCY) - A hearing where the Debtors proposed Chapter 13 plan is reviewed and either approved or denied by the Bankruptcy Judge.

CONFIRMATION HEARING (FORECLOSURE) - A hearing where the Sheriff's Sale is confirmed and title is transferred to the successful bidder from the sale.

CONFIRMATION OF BANKRUPTCY PLAN - A Bankruptcy Court order which approves a debtor's plan to pay the debts owed to his/her/their creditors as of the date of the filing of the bankruptcy petition. In some jurisdictions, Confirmation may be referred to as "Ratification."

COUNTERCLAIM - A claim presented in a pending lawsuit by a defendant against plaintiff in opposition to, or deduction from, plaintiff's claim.

CROSS-CLAIM - A claim in a pending lawsuit by a defendant against another defendant.

CRAM DOWN - The effect of certain provisions of the Bankruptcy code which allow the debtor to avoid the unsecured portion of an under secured claim when the under secured claim is not secured solely by the debtor's principal residence. (Also known as LIEN STRIPPING)

DEED IN LIEU - The process wherein property owners give title to the lender to avoid a foreclosure.

DEFAULT JUDGMENT - Judgment entered in a lawsuit when a defendant has failed to enter a plea or otherwise defend himself.

DEFENDANT - Any person or entity that is being sued.

DISMISSAL WITH PREJUDICE - In the bankruptcy court, a court order dismissing the bankruptcy case with an order prohibiting the debtor from filing another bankruptcy until the expiration of some specified time. In a non-bankruptcy matter, the dismissal of an action without the right to raise those issues again.

DOCKET - A list of cases and their status on a court's calendar.

DRAGNET CLAUSE - A mortgage provision where more than one property is pledged as collateral, potentially also encompassing newly acquired property owned by the borrower. Generally, a default on one mortgage constitutes a default on the mortgage with the dragnet clause.

ECF - Electronic Case Filing.

EQUITABLE - Just; conformable to the principals of justice and right.

ESTOPPEL - A party prevented by his own acts from claiming a right to the detriment of a second party, when the second party did some act in reliance on the first party's acts. An estoppel arises when one is forbidden by law to speak against his own act or deed.

EVICTION ACTION - A court action to obtain possession of premises by the person entitled to actual possession (also may be known as Forcible Entry and Detainer).

FAIR DEBT COLLECTION PRACTICES ACT ( F.D.C.P.A. ) - A federal act which provides the ground rules for communication with a consumer debtor and prescribes the manner in which debts may be collected.

FED - Forcible Entry and Detainer. A court action to obtain possession of premises by the person entitled to actual possession (also may be known as an Eviction Action).

FHLMC (Federal Home Loan Mortgage Corp.) - A stock-holder owned corporation (Also called "Freddie Mac") established by Congress that supplies funds to mortgage lenders. Mortgages funded by Freddie Mac must comply with their selling and servicing requirements.

FNMA (Federal National Mortgage Assn.) - A stock-holder owned corporation (Also called "Fannie Mae") established by Congress that supplies funds to mortgage lenders. Mortgages funded by Fannie Mae must comply with their selling and servicing requirements.

GNMA (Government National Mortgage Assn.) - A government agency (also called "Ginnie Mae") within the Department of Housing and Urban Development (HUD).

HOLDER IN DUE COURSE - A term that describes a person or other legal entity (such as a financial institution) who "holds" or owns a negotiable instrument (usually a check or promissory note) but is not the original payee of the instrument. As such, the "holder" may not be subject to some claims or defenses that might be raised against the original payee by the maker of the instrument (such as the borrower).

HUD (Department of Housing & Urban Dev't) - A government agency established to create opportunities for affordable housing for Americans. The Federal Housing Administration (FHA), which insures loans to individuals who might other wise be unable to obtain mortgage financing, is a part of HUD.

INJUNCTION - A writ or order issued under the seal of a court restraining one or more parties from proceeding with an action. The filing of a bankruptcy is accompanied by an automatic injunction (automatic stay) restraining the lender from pursuing collection actions against the bankrupt borrower.

IN REM - A term used to describe actions against one's property only, distinguished from personal actions which are said to be "in personam".

IN PERSONAM - A term used to designate proceedings or actions against a person and/or that person's possessions.

JOURNAL ENTRY OF JUDGMENT - The final ruling of the court on issues presented. A written record of the findings and decisions of the court.

JUDICIAL FORECLOSURE - A foreclosure filed as a formal lawsuit in a state court. A typical procedure involves filing a complaint, personal notice to the interested parties, entry of a judgment, sale of the property, and confirmation of the sale by the Court. However, the process varies from state to state and is sometimes combined with a non-judicial foreclosure process (see related definition)

JURISDICTION - Power of a court to take action against a person or business entity. Also, power or authority of a court to adjudicate the subject matter of a case.

LACHES - Failure to make a claim or file an action timely. This is often used as a defense (i.e. you waited too long to file this action; therefore, your case should be dismissed).

LAW DAY (Connecticut Only) - The last day for the mortgagor or other junior lien holder to redeem the foreclosing mortgagee's debt. If all the law days assigned pass without a redemption, the foreclosing mortgagee will own the property and will record a Certificate of Foreclosure.

LIEN STRIPPING - Used to describe the effect of certain provisions of the Bankruptcy Code which allow the debtor to avoid the unsecured portion of an under secured claim when the under secured claims is not secured solely by the debtor's principal residence (also known as a CRAM DOWN).

LIS PENDENS NOTICE - A notice filed on public records for the purpose of warning all persons that the title to certain property is in litigation and that they are in danger of being bound by an adverse Judgment.

LONG ARM STATUTES - Laws which permit courts to acquire personal jurisdiction over non-residents by virtue of activity within the state.

MECHANIC'S/CONTRACTOR'S LIEN - A claim created by a contractor or subcontractor when a builder or homeowner fails to make payment for work done in building or repairing a property. State laws govern these liens, but they can have priority over previously recorded liens. The holder of a mortgage or deed of trust cannot foreclose until mechanics' liens have been satisfied.

MORTGAGEE - The one receiving a mortgage (usually a financial institution). The lender.

MORTGAGOR - The one granting a mortgage on his or her property. The borrower.

MOTION REQUESTING RELIEF FROM STAY - A pleading filed in a bankruptcy case wherein the creditor requests that its collateral be removed from the automatic stay imposed by the bankruptcy filing.

MOTION TO DISMISS - A pleading which requests that the case be dismissed prior to the trial.

MOTION TO STRIKE - Request by either party for the court to order stricken from any pleading any insufficient defense, or any redundant, immaterial, impertinent or scandalous matter.

NEGOTIABLE INSTRUMENT - A document that meets the requirements set out in the Uniform Commercial Code (see UCC) Section 3-104. Specifically, it must be a writing signed by the maker or drawer; it must contain an unconditional promise or order to pay a sum certain in money; it must be payable on demand or at a definite time; it must be payable to the bearer or to order; and, it must not contain any other promise, order, obligation, or power given by the maker or drawer except as authorized.

NON-JUDICIAL FORECLOSURE - A foreclosure which does not involve filing an action in a state court. A typical procedure involves notice to the interested parties (either by personal service or an alternate method such as publication )and sale of the property. The Court provides no overview of the process unless petitioned by the mortgagor. However, the process varies from state to state and is sometimes combined with a judicial foreclosure process (see related definition)

NOTICE BY PUBLICATION - The process of serving defendants who cannot be located through publication in the newspaper. Specific legislation controls whom and how a defendant can be served by such publication.

PETITION/COMPLAINT - A formal written request filed with the court requesting that something specific be done.

PLAINTIFF - A person or entity filing a lawsuit.

PLEADINGS - The formal allegations by the parties of their respective claims and defenses as presented to the court for a ruling.

PROOF OF CLAIM - An official signed statement filed in bankruptcy court by a creditor which sets forth the amont the debtor owed the creditor as of the date the bankruptcy was filed.

PUD - Planned Unit Development.

QUIET TITLE - A proceeding to establish a plaintiff's title to land by bringing into court an adverse claimant and compelling him to either establish his claim or be permanently stopped from asserting it.

QUIT CLAIM DEED - A transfer of title in which the present title holder passes any interest or claim he or she has in a property but without professing that such title is valid nor containing any warranty or covenants for title.

RATIFICATION OF BANKRUPTCY PLAN - See Confirmation of Bankruptcy Plan.

REDEEM - The act of paying off a mortgage debt during a foreclosure suit so as to rid the property of that encumbrance.

REINSTATE - The payment of money sufficient to cure all amounts past due including reasonable fees and costs incurred as a result of a default on a loan.

RES JUDICATA - A rule which states that once a claim has been decided by the court, a person cannot bring another action based upon that same claim.

SERVICE OF PROCESS - The delivery of writs, summonses, etc. to the party to whom or with whom they ought to be delivered or left.

SHERIFF'S SALE - The public auction at which the property being foreclosed is offered for sale.

SPECIAL DEFENSE - Facts which are consistent with the allegations of the plaintiff's complaint but show, not withstanding, that the plaintiff has no cause of action. Some examples of special defenses in collection and foreclosure cases are payment, improper acceleration of the loan, statute of limitations and anything that would attack the making, validity or enforcement of the note and mortgage.

STAY - A order of the court whereby some action is forbidden until some event occurs or until the court lifts its order.

SUMMARY JUDGMENT - A judgment obtained upon motion by any party on a claim, counterclaim or cross claim when there is no genuine issue of material fact that would prevail as a matter of law. The motion may be directed toward all or part of the claim or defense and may be made on the basis of the pleadings or other portions of the record in the case or it may be supported by affidavit and a variety of outside material.

SUMMONS - A notice to a party in a law suit requiring said party to appear in court or have a judgment rendered against him for failing to do so.

TRUTH IN LENDING (TIL) - A federal law which requires that a person applying for credit be given understandable information worth regard to interest rates.

TSG - Trustee Sale Guarantee, or Trustee Sale Guaranty.

UCC (Uniform Commercial Code) - The laws that govern various commercial transactions.

U-CCC (Uniform Consumer Credit) - A guide that states may or may not use to further simplify the understanding of all aspects of credit and credit transactions.

VA (Department of Veterans Affairs) - A government agency established to guarantee loans to finance real estate.

VENUE - The particular county, or geographical area, in which a court with jurisdiction may hear and determine a case.

WARRANTY DEED - Deed in which a grantor warrants the status of the title.

WRIT OF ASSISTANCE - A court order directed to the sheriff (or other local official) ordering him to "assist" a party to a pending lawsuit (such as a bank in an eviction action) in obtaining the relief previously granted to the party by the court. An example would be a sheriff assisting a foreclosure sale purchaser in taking possession of the property after foreclosure.

WRIT OF EXECUTION - An order of the court in which a party is granted authority to seize assets of the defendant to satisfy its judgment.