Terms Used In New York Laws > Civil Rights > Article 5-A - Membership Corporations and Unincorporated Associations.

• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}