preforeclosure sale

Definition

A procedure in which a lender allows a mortgagor to avoid foreclosure by selling the property for less than outstanding balance of the loan.

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preforeclosure sale is ...

... part of the Lending & Credit and Real Estate subjects.

Nearby Terms

preferred equity redemption cumulative stock (PERCS)
Preferred Provider Organization
preferred shares
preferred stock
preferred stock ratio
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preliminary official statement
preliminary prospectus
premature distribution
premise
premises