Nonjudicial Foreclosure Sale

Definition of "Nonjudicial foreclosure sale"

Nathan Pfahler, Broker Associate real estate agent
Nathan Pfahler, Broker Associate, Real Estate Agent NEW DIMENSIONS in REAL ESTATE

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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