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Facts - Books - News    U.S. Facts Of Law:


Real Estate Foreclosure

 Real estate foreclosure is the process of repossessing a piece of real property such as a home.  It is a legal process used by the mortgage holder when the owner of the property is in arrears on the mortgage payments.

In strict foreclosure the mortgage holder takes title and possession of the real estate foreclosed in satisfaction of the mortgage loan.

Most states require a different type of real estate foreclosure process.  In a more common type of foreclosure instead of reverting to the ownership of the mortgage holder, the property is auctioned by the county sheriff or court officer.  Often the mortgage holder will place a bid at the amount of the remaining mortgage to insure that the property is not sold for an amount less than is still owed on the mortgage.  Should other bidders bid the price higher than the amount of the remaining loan, the party foreclosed upon receives the equity portion of the winning bid after foreclosure expenses.  This discourages the mortgage holder from forcing a real estate foreclosure for the purpose of grabbing an owner's equity.

 

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New HOA Bill Speeds Up Foreclosure Process Arizonaaposs Family AZFamily
AZFamily New HOA bill speeds up foreclosure process Arizona39s Family AZFamily A new bill filed at the state Capitol gives homeowners associations the power foreclose on property owners faster than they do now. Proposed bill would speed up HOA foreclosures in Arizona ABC15 ABC15 Arizona all 4 news articles raquo

Sitt Brothers Settle 2 Herald Square Lawsuit As Foreclosure Auction Looms Bi...
Bisnow Sitt Brothers Settle 2 Herald Square Lawsuit As Foreclosure Auction Looms Bisnow The brothers that make up Sitt Asset Management39s ownership have settled their lawsuits against each other, though perhaps too late to retain possession of the company39s flagship asset. The company announced it had reached settlements in two lawsuits

YearOld Vegas Hotel With Closed Casino Facing Foreclosure U.S. News Amp Worl...
Eater Vegas Year Old Vegas Hotel With Closed Casino Facing Foreclosure U.S. News World Report Year Old Vegas Hotel With Closed Casino Facing Foreclosure. Records say an Asian themed Las Vegas casino hotel that shuttered gambling and restaurant operations this month after being open for about a year is facing foreclosure. Jan. 17, 2018, at 12:37 Lucky Dragon Heads to the Auction BlockEater Vegas Lucky Dragon May Hit The Auction BlockKDWN all 4 news articles raquo

Foreclosure Executed By Danielly Auburn Villager
Foreclosure executed by Danielly Auburn Villager DEFAULT having been made in the terms of that certain mortgage executed by Jerry Lee Danielly, Jr. as Sole Member of Elite Homes of East Alabama, LLC, an Alabama limited liability. company, which said mortgage is dated May 24, 2017, and recorded in the and more raquo

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Facts of Law explaining the foreclosure process

Facts of Law - Foreclosure