Foreclosure Definitions

Strict Foreclosure Definition

Strict foreclosure, by definition, is a form of judicial foreclosure where the lender asks the court for title to the ...
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REO Foreclosure Definition

A REO foreclosure, by definition, is a bank-owned property that went back to the mortgage lender after an unsuccessful auction ...
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Pre-Foreclosure Definition

Pre Foreclosure Definition – A pre-foreclosure, by definition, is real estate owned by someone who is in danger of being ...
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Non-REO Foreclosure Definition

A non-REO foreclosure, by definition, is a property where the foreclosure process was completed successfully. In a non-REO foreclosure purchase, ...
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Non-Judicial Foreclosure Definition

A non-judicial foreclosure, by definition, is a foreclosure that does not go through the court (judicial) system. Another term for ...
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Judicial Foreclosure Definition

A judicial foreclosure, by definition, is a foreclosure where the lender goes through the legal system to obtain a judgement ...
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In-Substance Foreclosure Definition

An in-substance foreclosure, by definition, is when the bank or lender has already taken possession of the home or property ...
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Friendly Foreclosure Definition

A friendly foreclosure, by definition, is another term for a deed-in-lieu of foreclosure. This is a process where the homeowner ...
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Foreclosure Definition – (English)

The most common foreclosure definition in English is something like the following: it is a legal action the lender may ...
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Deed in Lieu of Foreclosure

A deed-in-lieu of foreclosure in Canada is one alternative to going through the long, expensive, and painful foreclosure process. A ...
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