Definition:
A sale resulting from the exercise of
the optional right of the mortgagee or lending institution
to sell mortgaged property if the mortgagor fails to make
payment, applying proceeds from the sale toward the
outstanding debt.
Use this tool to find CRE related terms, and their corresponding definitions, as they are used in our reports.
Definition:
A sale resulting from the exercise of
the optional right of the mortgagee or lending institution
to sell mortgaged property if the mortgagor fails to make
payment, applying proceeds from the sale toward the
outstanding debt.