judicial foreclosure

Definition of "judicial foreclosure"
  1. A process where a court allows a property to be sold as a result of the owner's default on mortgage payments
How to use "judicial foreclosure" in a sentence
  1. The bank initiated a judicial foreclosure on the property due to unpaid loans.
  2. The house was sold in a judicial foreclosure after the owner could not make the mortgage payments.
  3. Due to continuous default on his mortgage, John's house went into judicial foreclosure.

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