Right of Foreclosure

(redirected from Foreclosure Right)

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.
Mentioned in ?
References in periodicals archive ?
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.
Quintana is entitled to exercise its foreclosure rights under the terms of the senior secured financing arrangement announced on 15 October 2014 and 30 October 2014, and accordingly pursuant to the Acknowledgement, Quintana has exercised its security and taken ownership of Arian Silver de Mexico SA de CV and its assets, including the San Jose project.
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.
Under the royalty agreement these foreclosure rights are not affected by Semi-Tech's appeal.
3 million bank note, the assets of Direct Data have been transferred to the secured creditor holding the foreclosure rights under the bank note.