foreclosure sale
21foreclosure by sale — A summary method of foreclosure of a mortgage or deed of trust by sale of the mortgaged premises under a power of sale contained in the mortgage or deed of trust, or even in a separate instrument. 37 Am J1st Mtg § 647. See foreclosure of chattel… …
22foreclosure by action and sale — A suit to obtain a decree of foreclosure and a sale of the mortgaged premises in accordance with that decree, the proceeds to be applied, first to the payment of the costs of suit, the mortgage debt, and interest thereon, second to junior… …
23foreclosure suit — See foreclosure by action and sale …
24foreclosure of chattel mortgage — An action to declare judicially the forfeiture for condition broken and to obtain a sale and transfer of title to the subject of the mortgage. 15 Am J2d Chat Mtg § 208. A sale of the property covered by the mortgage, upon a default by the… …
25judicial foreclosure — A foreclosure in which the foreclosing party files a lawsuit in the county where the real estate is located, seeking a court judgment allowing the property to be sold at a foreclosure sale because the owner has defaulted on mortgage payments. A… …
26strict foreclosure — n 1: a proceeding in which the amount due on a mortgage is determined and a period of time within which it must be paid is fixed with the understanding that in the event of the mortgagor s default title will be vested in the mortgagee free of any …
27Bargain and sale deed — A bargain and sale deed is in United States real property law, a deed conveying real property without covenants . [Black s Law Dictionary, p. 46 (2001 edition).] This is a deed for which the grantor implies to have or have had an interest in the… …
28Involuntary Foreclosure — When a borrower defaults on a home mortgage loan and the lender initiates proceedings to take possession of the house and sell it to recover the debt. In an involuntary foreclosure, the borrower typically remains liable for the full amount of the …
29judicial foreclosure — See foreclosure sale …
30judicial foreclosure — See foreclosure sale …
