Wex Legal Dictionary

If you’re a buyer considering a foreclosure purchase, be sure you’ve evaluated the advantages and disadvantages of this type of transaction first. Homeowners in pre-foreclosure could come up with the money to put their loan back in good standing; a lender might be dissatisfied with the offers at auction and take full ownership of the home, potentially waiting months before offering it for sale as a REO property.foreclosure

If it has not already done so, the holder of your mortgage must file proof that it owns title to the security instrument related to the real property with the clerk of the superior court of the county in which the real property is located, prior to the start of the foreclosure sale.foreclosure

He’s also a powerful state senator who chairs the Committee on Business and Commerce and who, back in 2001, authored the law that enshrined pro-industry HOA foreclosure practices in …