Type of foreclosure agreement that has a pre-determined time period for when the default balance must be paid to prevent the relinquishment of the homeowner's rights. This time period is issued by a court system and goes in effect after the house has entered foreclosure proceedings. If the homeowner does not pay the defaulted balance before the pre-determined date, his/her equitable and statutory redemption rights are waived.
Related information about strict foreclosure:
- Strict foreclosure - Wikipedia, the free encyclopedia
Strict foreclosure in the law of security interests in the United States, is the foreclosure of personal property that is subject to such an interest. This is permitted ...
- Foreclosure - Wikipedia, the free encyclopedia
Under strict foreclosure, which is available in a few states including Connecticut, New ... Historically, strict foreclosure was the original method of foreclosure.
- Strict Foreclosure - Legal Dictionary - The Free Dictionary
A decree that orders the payment of a mortgage of real property. A strict foreclosure decree sets out the amount due under the mortgage, orders it to be paid ...
- What is Strict Foreclosure? - Free Legal Resources - LawInfo
What is Strict Foreclosure? | Consumer Finance and Foreclosure Legal Resources.
- Strict Foreclosure: Definition from Answers.com
A foreclosure proceeding in which the mortgagee has the right to possess the mortgaged property directly upon default on the mortgage agreement.
- Foreclosure of Mortgages in Connecticut - Connecticut Judicial ...
Strict foreclosure: “'Under our law, an action for strict foreclosure is brought by a ... Strict foreclosure vs. foreclosure by sale: “All liens and mortgages affecting ...
- Connecticut Foreclosure Laws and Statutes | CT
Connecticut Foreclosure is Judicial. Connecticut foreclosure has two distinct types of judicial procedures: Strict Foreclosure and Foreclosure By Sale.
- Strict Foreclosure [Foreclosure HQ]
Strict Foreclosure. What is a "strict foreclosure"? A "strict foreclosure" is a foreclosure proceeding in which the lender is entitled to take possession of the property ...