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These laws can govern your mortgage relief options if you are already in foreclosure, how to post a Notice of Sale, the sale timeline and other parts of the process. Step 1: Missed mortgage payments
Wears Valley (sometimes spelled Wear Valley) is an unincorporated community in Sevier County, Tennessee that was formerly treated by the U.S. Census Bureau as a census county division. As of the 2000 Census , the population of Wears Valley was 6,486.
Foreclosure of chattel mortgages (mortgage of movable property) are governed by Sec. 14 of Act No. 1506, which gives the mortgagee the right to sell the chattel at a public sale. It has also been held that as regards chattel mortgages, the law does not prohibit that the foreclosure sale be done privately if it is agreed upon by the parties. [49]
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
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Like other park border regions, the history and economy of the valley are intertwined with that of the Smokies. The primary community is Wears Valley. Wear Cove is a type of valley known as a "limestone window", created when erosion weathers through the older Precambrian sandstone and exposes the younger Paleozoic limestone beneath.
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