foreclosure

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foreclosure

The depriving of the right to a property by legal transfer of title, esp. because of failure to maintain mortgage payments.
References in periodicals archive ?
18, 2014) --The basis of the claims was scope of authority of FDFC to assess and judicial foreclosure.
The statute did not limit the lender's ability to seek a full deficiency judgment if it agreed to forego the nonjudicial foreclosure process and use the state's alternative judicial foreclosure procedures instead.
1 (listing states in which judicial foreclosure is the exclusive method); see also Press Release, RealtyTrac, supra note 67 (describing foreclosure market data by state).
3) A judicial foreclosure can be pursued in any state.
First, states are almost equally divided between those that employ a judicial foreclosure procedure and those that employ a power-of-sale procedure.
Upon request by Multnomah County, Contractor shall provide the Contractor s standard form of Judicial Foreclosure Guarantee (Litigation Guarantee Report) on specified properties.
109) But one can easily see why courts in judicial foreclosure states often demand that the note itself be produced; if you have the note, why not show it to the judge?
Average foreclosure timelines, or the length of time between the first missed payment on a loan to its liquidation, have increased as well--particularly in judicial foreclosure states, where a court order is required to evict a borrower.
The Real Property, Probate and Trust Law Section appreciates this opportunity to address misperceptions concerning the context in which it is advocating certain reforms to our judicial foreclosure system.
The large backlog likely stems from the judicial foreclosure process in New York, where the process is more prone to delays because judges have to sign off on all foreclosures, according to the Wall Street Journal.

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