foreclosure sale
foreclosure sale see sale

Merriam-Webster’s Dictionary of Law. . 1996.

foreclosure sale
The forced sale of real estate, usually at public auction, that has been foreclosed on - that is, that has been seized by the lender after the borrower defaulted on mortgage payments.
Category: Bankruptcy, Foreclosure & Debt → Foreclosure
Category: Real Estate & Rental Property → Homeowners

Nolo’s Plain-English Law Dictionary. . 2009.

foreclosure sale
n.
   the actual forced sale of real property at a public auction (often on the courthouse steps following public notice posted at the courthouse and published in a local newspaper) after foreclosure on that property as security under a mortgage or deed of trust for a loan that is substantially delinquent. The lender who has not been paid may bid for the property, using his/her/its own unpaid note toward payment, which can result in a bargain purchase.

Law dictionary. . 2013.

Look at other dictionaries:

  • foreclosure sale — sale of confiscated properties, sale of assets that were repossessed …   English contemporary dictionary

  • foreclosure sale — A sale, judicial or otherwise, made in the enforcement of alien, mortgage, or deed of trust …   Ballentine's law dictionary

  • redemption from foreclosure sale — A statutory right of the mortgagor, junior lienor, or other person interested in the property, to recover the mortgaged property sold on foreclosure by payment of the price paid by the purchaser at the sale, interest, and other charges, and the… …   Ballentine's law dictionary

  • foreclosure — fore·clos·ure /fōr klō zhər/ n 1: a legal proceeding that bars or extinguishes a mortgagor s equity of redemption in mortgaged real property see also deficiency judgment at judgment, redeem …   Law dictionary

  • Foreclosure investment — refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property. In real estate, foreclosure is the termination of the [equity] of redemption [Equity of redemption… …   Wikipedia

  • Foreclosure consultant — means any person who makes any solicitation, representation, or offer to any owner to perform for compensation or who, for compensation, performs any service which the person in any manner represents will in any manner do any of the following:(1) …   Wikipedia

  • sale — n 1 a: the transfer of title to property from one party to another for a price; also: the contract of such a transaction see also short 1 2 compare barter, donation …   Law dictionary

  • Foreclosure — For Lacan s psychoanalytic process, see Foreclosure (psychoanalysis). House in Salinas, California under foreclosure, following the popping of the U.S. real estate bubble. Foreclosure is the legal process by which a mortgage lender (mortgagee),… …   Wikipedia

  • foreclosure — /forklowzhsr/ To shut out, to bar, to destroy an equity of redemption. Anderson v. Barr, 178 Okl. 508, 62 P.2d 1242, 1246. A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage. The process by which a …   Black's law dictionary

  • foreclosure — /forklowzhsr/ To shut out, to bar, to destroy an equity of redemption. Anderson v. Barr, 178 Okl. 508, 62 P.2d 1242, 1246. A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage. The process by which a …   Black's law dictionary

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