Decree Of Foreclosure And Sale

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Dictionary Says

Definition of 'Decree Of Foreclosure And Sale'

A declaration made by a court indicating that a piece of property is to be sold in order to cover outstanding debts. A decree of foreclosure and sale is most frequently used on a mortgaged property, with the proceeds from the sale going to the mortgage lender.
Investopedia Says

Investopedia explains 'Decree Of Foreclosure And Sale'

When the decree is made, the mortgage holder is given notice of the outstanding debt and that the property is to be auctioned off. The amount recovered from the auction goes to cover unpaid interest and principal, as well as legal bills.
Search results for

'Decree Of Foreclosure And Sale'

  • Short Sell Your Home To Avoid Foreclosure

    http://www.investopedia.com/articles/mortgages-real-estate/08/short-sell-home-avoid-foreclosure.asp
    ... a termination notice from your former job or a divorce decree. ... if it does not approve
    the short sale, it may ... to get money out of you in foreclosure proceedings ...

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