Creditors with secured claims can foreclose upon (seize title to) these assets if the borrower defaults.

如果借款人违约，持有担保索赔权的债权人可以没收抵押品资产。

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This means that the bank has initiated proceedings to foreclose upon the property, but the home is not listed for sale yet.

FORBES: Better Bargains With Foreclosures and Pre-Foreclosures

The only fair thing to do is to foreclose upon all of the homes that qualify for foreclosure due to failure to pay upon the mortgage, bring all the resulting inventory to the market and let the housing market find a secure and stable bottom.

FORBES: Why Homeowners Can't Bank On The Mortgage Relief Plan