judicial foreclosure - a legal action in which a lender compels the sale of the collateral real property to satisfy the debt. Debtors have a period of notice, called an equity of redemption, in which the debtor may pay all sums then due and halt the foreclosure. He or she may also have a statutory right of redemption in which the property may be returned to the debtor even after the foreclosure upon the full payment of the debt plus foreclosure and administrative costs. See also nonjudicial foreclosure and sheriff's sale.

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