| 释义 |
DictionarySeeforeclosureforeclosure sale
foreclosure saleThe optional right of the mortgagee to resort to the sale of the mortgaged property in the event of default in mortgage payments, and to apply the net proceeds realized from its disposition to the unpaid debt.foreclosure sale
foreclosure salen. the actual forced sale of real property at a public auction (often on the court house steps following public notice posted at the court house 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. See foreclosure for a description of that process. 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. (See: foreclosure, mortgage, deed of trust, forced sale, sheriff's sale, judicial sale, execution) FinancialSeeForeclosure |