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Strict foreclosure: ... Each state has its own laws pertaining to the foreclosure process and foreclosure sales. ... In California, it must be posted on the property, as well as a public place in ...
Strict foreclosure is also an effective remedy where the value of the goods foreclosed is the equivalent of the debt due and owing, and the creditor can easily sell the goods for that value. In order to effect a strict foreclosure, the creditor must transmit a proposal indicating their desire to foreclose, which must be sent to the debtor and ...
Other types of foreclosure are considered minor because of their limited availability. Under strict foreclosure, which is available in a few states including Connecticut, New Hampshire and Vermont, if the mortgagee wins the court case, the court orders the defaulted mortgagor to pay the mortgage within a specified period of time. Should the ...
The Ellis Act (California Government Code Chapter 12.75) [1] is a 1985 California state law that allows landlords to evict residential tenants to "go out of the rental business" in spite of desires by local governments to compel them to continue providing rental housing.
Key takeaways. If you’re facing foreclosure, the right of redemption gives you a legal pathway to keep or regain your home, by paying back the entire outstanding loan, plus interest and fees.
Here's a scary number: Over 200,000 California tenants are directly affected by the rise in foreclosures. A report released yesterday -- "California Tenants in the Foreclosure Crisis" -- says that ...
The California Codes are 29 legal codes enacted by the California State Legislature, which, alongside uncodified acts, form the general statutory law of California. The official codes are maintained by the California Office of Legislative Counsel for the legislature.
America's home foreclosure crisis may have faded from the front-page headlines, but that doesn't mean the problem has gone away. Consider the situation in Modesto, California, a city of more than ...
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