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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 ...
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 ...
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]
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 ...
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 ...
The process—usually achieved with a combination of intimidation, threats, and physical force—effectively circumvents foreclosure by forcing the lender to relinquish the property without an opportunity to recuperate the balance of the loan. The term arose during the foreclosure of farms during the Great Depression in the United States.
The company has been accused of artificially driving up the price of its auctions since 2014, with many lawsuits settled out of court. [ 6 ] [ 7 ] Since 2008, the company has sold more than $3 billion in real estate properties in 46 U.S. states or territories and 30 foreign countries.