Nonjudicial Foreclosure Sale


Definition of "Nonjudicial foreclosure sale"

Yadira Bello real estate agent
Yadira Bello, Real Estate Agent Agent Trust Realty

Foreclosure sale enable in those states permitting the use of a power of sale clause to be inserted into a mortgage or deed of trust empowering the mortgagee to advertise and sell a property at a foreclosure sale upon the mortgagor's payment default. A nonjudicial foreclosure sale enables a foreclosure action without a formal judicial action.

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