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Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
The process—usually achieved with a combination of intimidation, threats, and physical force—effectively circumvents foreclosure by forcing the lender to relinquish the property without an opportunity to recuperate the balance of the loan. The term arose during the foreclosure of farms during the Great Depression in the United States.
Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property. In real estate , foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage.
Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]
A deed-in-lieu of foreclosure involves turning over your home to a lender to avoid foreclosure proceedings. In some instances, going this route could help you avoid paying the remaining loan ...
When a provision of law requires that repossession takes place, the lien holder has a non-delegatable obligation not to cause a breach of the peace (which is synonymous with disturbing the peace) in performing the repossession or the repossession will be reversed, and the party ordering the repossession will be liable for damages (or the lienholder will be held responsible).
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