How a borrower can use lender liability to attack a trustee's sale in a nonjudicial foreclosure
Article Abstract:
Non-judicial foreclosures are structured such that they can be achieved rapidly and leave borrowers with no post-sale rights of redemption should a sale take place, unlike judicial foreclosures. Borrowers who receive notices of default in non-judicial foreclosures and who resort to bankruptcy proceedings expose themselves to risk in terms of credit and business relations and the eventual loss of the property that the bankruptcy mechanism was supposed to prevent. They should, therefore, consider some suggested non-bankruptcy options.
Publication Name: Real Estate Finance Journal
Subject: Real estate industry
ISSN: 0898-0209
Year: 1998
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When a third party purchases your government-held mortgage
Article Abstract:
Defaulted mortgages are now being disposed of and auctioned as an effort to bail them out of their nonperforming status. Profit-driven third parties grab the chance of purchasing these loans and pursuing aggressive collection efforts, sometimes forcing litigation or bankruptcies. To keep one's property, one must provide new equity or face much legal activity from one's lender.
Publication Name: Real Estate Finance Journal
Subject: Real estate industry
ISSN: 0898-0209
Year: 1996
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Reverse mortgage lending: a growing demand
Article Abstract:
The Housing and Community Development Act of 1987 created a federal mortgage insurance program called the Home Equity Conversion Mortgage. Administered by the Dept. of Housing and Urban Development, the program, also known as reverse mortgage, converts equity in a primary residence to a series of tax-free monthly dues or a lump sum distribution, or given as a line of credit.
Publication Name: Real Estate Finance Journal
Subject: Real estate industry
ISSN: 0898-0209
Year: 1996
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