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Glite Dictionary
💸 To fail again 🔄 To reset settings
to redefault

to redefault

9.2
Fail to pay back a loan again after missing payments earlier
  • verb
  • /ˌriːdɪˈfɔːlt/
  • Specialized
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  • The record shows that more than half of the loans modified in late 2008 ended up redefaulting within a year, and with debt-to-income levels as high as that being produced by HAMP, you'd expect that success rate to be just a pipe dream for HAMP.

Examples

  • Many borrowers faced challenges that led them to redefault on their loans shortly after modification.

  • Which naturally will do nothing but keep said irresponsible person in the home for a few months, until they redefault again and again, because it was never a question of how much equity one has in a given home.

    Blog text (19)

  • After struggling to make payments, she could not avoid redefaulting on her mortgage.

  • The company warned investors that if they did not provide further support, several clients would likely redefault.

Synonyms

to go back on
vsto redefault
33 4.1

Break a promise or agreement

refers to failing again specifically on a financial obligation

Antonyms

to repay
75 1.7

To pay back money you borrowed

Surface Forms

redefault infinitive
redefaulted past
redefaulted past participle
redefaulting present participle
redefaults third person singular

Morphology

redefault = default (transparent) = re + default

Adding 're-' to the financial verb 'default' straightforwardly gives the meaning 'default again'.

Etymology

Redefault comes from the start part re- meaning 'again' and default, which in finance means 'to fail to pay' or 'not meet an obligation'. So, to redefault is to fail again to pay a loan or other debt.