FT MarketWatch

Judicial foreclosure

A foreclosure which results from a court Action rather than from the power of sale given to a trustee. Judicial foreclosures occur when a trust Deed or mortgage Deed does not have a power of sale clause, thus compelling the Lender to take the borrower to court. This is in contrast to a non-judicial foreclosure, in which a foreclosure can be completed outside the court system.

Related Terms: 11 Action, Borrow, CLO, Deed, Judicial foreclosure, Lend, Lender, Mortgage, Owe, OCC, Trust
Other Related Pages: Category: Real_Estate Starting With: J
Semi Related Terms: 510 CLICK HERE TO VIEW