foreclosure
DefinitionThe legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.
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foreclosure is ...
... part of the Lending & Credit and Real Estate subjects.
... part of the Lending & Credit and Real Estate subjects.
Related Terms
Certificate of Claim, Notice of Sale, preforeclosure sale, real estate owned, REO
foreclosure appears in these other terms
nonjudicial foreclosure
foreclosure appears in the definitions of these other terms on BusinessDictionary.com
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