foreclosure

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fore·clo·sure

 (fôr-klō′zhər)
n.
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-)

n.
the act of foreclosing a mortgage or sometimes a pledge.
[1720–30]

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
ThesaurusAntonymsRelated WordsSynonymsLegend:
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
References in periodicals archive ?
The basis was whether the LCEID had authority to issue bonds and whether judicial foreclosure was an appropriate remedy.
Judicial foreclosure state New Jersey, on the other hand, saw its rate in September more than quadruple on an annual basis.
This partially explains patterns evident in the Fourth District, where states that rely exclusively on a judicial foreclosure process--Ohio, Kentucky, and Pennsylvania--have seen little decline in their foreclosure rates.
Aside from these differences in foreclosure rates, the researchers observe that states with a judicial foreclosure requirement are remarkably similar to states without such a requirement.
New York State follows a judicial foreclosure process, which tends to slow things down even more than in states that do not require court approval.
New York was another judicial foreclosure state that enacted a foreclosure moratorium statute during the thirties.
In a judicial foreclosure, the lender sues the borrower in court.
121) Even where power of sale foreclosures are permitted, there are certain situations where a mortgagee will elect to utilize the state's judicial foreclosure apparatus, for example, where there are lien priority disputes.
The primary difference across states is whether or not judicial foreclosure is required.

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