Clark Howard Show Notes – July 21, 2010 – How to Profit From ForeclosureForeclosure is the legal action taken to extinguish a home owner's right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property, so that the property can be sold in a foreclosure sale to satisfy a debt., Housing Tumbles, Back to School Shopping. Legislation seeks to keep credit scores from suffering when homeowners go into loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interest. modification program. Got a problem with customer service? Tweet the company for a fast response. Here’s what happened to one of our listeners. Read Ilyce’s blog for more helpful links and information.