sheriff's sale

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sheriff's sale

n. an auction sale of property held by the sheriff pursuant to a writ (court order) of execution (to seize and sell the property) to satisfy (pay) a judgment, after notice to the public. (See: levy, execution, writ, forced sale)

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References in periodicals archive ?
However, borrowers whose properties were auctioned and who were already issued a certificate of sheriff sale are no longer qualified.
This pilot program required a judicially supervised "conciliation conference" between the owner-occupant of residential property and the lender or mortgage servicer before the property was eligible for a sheriff sale.
In light of this, CMAC developed a mechanism to ferret out, for special servicing efforts, the remaining defaults that were likely to go to a sheriff sale. A rolling loss severity index was created to assist in determining the cases requiring exceptional effort.