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Court auction is an auction which takes place at a public location designated by the court. If a property owner fails to pay the mortgage, the mortgage holder can foreclose on that property. If the owner is unable to make sufficient payments, the property can be sold at auction. The time and place of the auction is published in official records ...
On Oct. 20, New York state courts cracked down on robo-signing by ordering attorneys for foreclosing banks to swear that they had personally confirmed that the documents they are submitting are ...
These laws can govern your mortgage relief options if you are already in foreclosure, how to post a Notice of ... sells at the foreclosure auction for less than you owe. The amount owed is called ...
In some jurisdictions, such as New York, an "order to show cause" is used routinely to initiate a motion when a traditional "notice of motion" would not be sufficient—for example, when the moving party wishes to vary the usual schedule for considering a motion, or when a temporary restraining order or other provisional remedy is being sought ...
This figure falls in the higher spectrum of foreclosure frequency. As of August 2014, the foreclosure rate was 33.7%, 1.7% up from the last year. The rise in foreclosure activity has been most significant in New York and New Jersey, the two most densely populated areas in U.S. Closely following them is Florida. [36]
A notice of default is a public notice filed with a court or local recording office to begin the process of foreclosure. A mortgage lender or servicer can file this notice after four months (120 ...
A "motion to dismiss" asks the court to decide that a claim, even if true as stated, is not one for which the law offers a legal remedy.As an example, a claim that the defendant failed to greet the plaintiff while passing the latter on the street, insofar as no legal duty to do so may exist, would be dismissed for failure to state a valid claim: the court must assume the truth of the factual ...
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.