foreclosure(redirected from Judicial foreclosure)
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1. The act of foreclosing, especially a legal proceeding by which a mortgage is foreclosed.
2. A property that has undergone foreclosure: decided to purchase a foreclosure.
fore•clo•sure(fɔrˈkloʊ ʒər, foʊr-)
the act of foreclosing a mortgage or sometimes a pledge.
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