| 释义 |
`1`foreclosure sale`2`
"LAW.COM Dictionary":
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.
See also: deed of trust execution forced sale foreclosure judicial sale mortgage sheriff's sale |