Homeowners Facing Foreclosure. The pre-foreclosure period usually refers to the interim between the legal default notification and the foreclosure sale or auction. Lenders notify homeowners and the public of the outstanding mortgage debt after about three to six months of missed payments.
Meaning of Pitambar. Means yellow garments, derived from Sanskrit pita means yellow and ambara means garment. This is another name of the Hindu gods Vishnu or Krishna, given to them because yellow clothing is traditionally worn at religious events.
DEFINITION of 'Pit'. A specific area of the trading floor that is designated for the buying and selling of a particular type of security through the open outcry system. In the pit, brokers match customers' buy and sell orders through shouting and hand signaling.REAKING DOWN 'Pit'. Pits, also called trading pits, have an octagon shape with several tiers to improve visibility. Brokers show their brokerage affiliations through their jacket colors and badges. Clerks take orders by phone or computer from customers, and runners transmit orders between the clerks and the brokers.