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foreclosure
(redirected from Judicial foreclosure)

   Also found in: Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
fore·clo·sure  (fôr-klzhr, fr-)
n.
The act of foreclosing, especially a legal proceeding by which a mortgage is foreclosed.

foreclosure
the process by which mortgaged property enters into the possession of the mortgagee without right of redemption by the mortgagor, usually for reason of delinquency in mortgage payments.
See also: Property and Ownership
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.foreclosure - the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
legal proceeding, proceeding, proceedings - (law) the institution of a sequence of steps by which legal judgments are invoked
Translations
foreclosure [fɔːˈkləʊʒəʳ] Napertura f de un juicio hipotecario
foreclosure [fɔːrˈkləʊʒər] nsaisie f
foreclosure
nZwangsvollstreckung f(on bei)
foreclosure [fɔːˈkləʊʒəʳ] npignoramento


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Basically in Florida, the lender must go to court and wait for it to issue the final judgment on the property; this is also known as a judicial foreclosure.
In judicial foreclosure states, it is usually the judgment of foreclosure and sale that quantifies this sum.
5 million loans being serviced in Florida, 374,134 are in the judicial foreclosure process.
 
 
 
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