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In real estate, foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage. Depending on the type of foreclosure proceeding, the sale may be administered by the courts (judicial foreclosure) or by an appointed trustee (statutory foreclosure). Proceeds from the sale are used ...
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
The late actor’s home was officially sold for $8.5 million nearly one year after his sudden death on Oct. 28, 2023 Reuters 3 months ago US pending home sales jump the most in more than four ...
Covering 766 acres (3.10 km 2) and containing 1466 contributing buildings, Old Dauphin Way is the largest historic district in Mobile. Although most of the district contains working-class frame houses, large and ornate mansions are found along the main thoroughfares. The contributing buildings range in age from the mid-19th to the early 20th ...
"A frame residence of eight rooms, one of the first homes of so pretentious forms in that country," [9] built by H. A. Tayloe, who co-owned it and was later bought out by brother George P Tayloe, who then passed it on to his son John William Tayloe, who designed Hawthorne (Prairieville, Alabama) and married Miss Lucie Randolph of "Oakleigh ...
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