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With this option, you don’t need to pay your mortgage, but you might still be responsible for paying the difference between your home’s value and the mortgage balance.
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 mortgagor fail to do so, the mortgage holder gains the title to the property with no ...
The listing broker may offer buyer agents a portion of their commission as an incentive to find buyers for the property. Payment is required if real estate brokerage service was used. This is often one of the largest closing costs. Mortgage application fees, paid by the buyer to the lender, to cover the costs of processing their loan ...
When it comes to buying and selling homes, new rules are about to be put in play, five months after the National Association of Realtors agreed to a blockbuster settlement over how its 1.5 million ...
An HOA, or homeowners association, is a type of community association made up of all of the homeowners in a particular planned community. HOAs, like condo associations, are responsible for ...
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 ...
A strict total order on a set is a strict partial order on in which any two distinct elements are comparable. That is, a strict total order is a binary relation < {\displaystyle <} on some set X {\displaystyle X} , which satisfies the following for all a , b {\displaystyle a,b} and c {\displaystyle c} in X {\displaystyle X} :
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