Preforeclosure sale

A procedure in which a Lender allows a Mortgagor to avoid foreclosure by selling the Property for less than outstanding Balance of the Loan.

Related Terms: 15 Balance, CLO, Lend, Lender, Loan, Low, Lows, Mortgagor, OID, Outstanding, Property, ROC, ROCE, Sell, Void

Other Related Pages: Category: Real_Estate Starting With: P

Additional Related Terms: 52-week low, Adjusted balance method, Allowance for depreciation, Account balance, Average daily balance, Average daily balance method, Accrual of discount, Amortization of premium, All or any part, All-risks coverage