Right of Foreclosure

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Right of Foreclosure

The legal right of a mortgage lender to take ownership of a property securing a mortgage if the borrower does not meet the terms of the lending agreement. Most obviously, the right of foreclosure is exercised if the borrower does not pay the mortgage.
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Start foreclosure right away and either get the property or the redemption without having to wait out the redemption period
Q: Are there types of loan structures or types of owners or properties that are most susceptible to foreclosure right now or could be in the future?
There are a lot of high-end homes in foreclosure right now.
There are a lot of people who are living in fear of foreclosure right now -- people who cannot sell for the amount they owe, but they know that the banks won't do a short sale with them because they can still pay their note.
Hampshire First, a two-year-old bank, doesn't have any residential properties in foreclosure right now, but is working with one commercial customer to avoid foreclosure, Dunphy said.
If the home is not in foreclosure right now you can sign up for e-notify and if the property goes into foreclosure in the future, you will be notified.
The way I look at it, we've saved over 1 million loans from foreclosure in a seven-month period, and they aren't in foreclosure right now.
Hardee Capital did not pay $8,300 of such amount as agreed and consequently, the note is in default under its terms and conditions, giving MicroTel the immediate right to vote the collateral shares of Kleer-Vu, as well as foreclosure rights, and the right to proceed against the personal guarantee of David W.