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Facts - Books - News    U.S. Facts Of Law:


Real Estate Foreclosure

 Real estate foreclosure is the process of repossessing a piece of real property such as a home.  It is a legal process used by the mortgage holder when the owner of the property is in arrears on the mortgage payments.

In strict foreclosure the mortgage holder takes title and possession of the real estate foreclosed in satisfaction of the mortgage loan.

Most states require a different type of real estate foreclosure process.  In a more common type of foreclosure instead of reverting to the ownership of the mortgage holder, the property is auctioned by the county sheriff or court officer.  Often the mortgage holder will place a bid at the amount of the remaining mortgage to insure that the property is not sold for an amount less than is still owed on the mortgage.  Should other bidders bid the price higher than the amount of the remaining loan, the party foreclosed upon receives the equity portion of the winning bid after foreclosure expenses.  This discourages the mortgage holder from forcing a real estate foreclosure for the purpose of grabbing an owner's equity.

 

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Real Estate Foreclosure News
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How Banks Undermined Federal Foreclosure Assistance Stanford University News
Stanford University News How Banks Undermined Federal Foreclosure Assistance Stanford University News The idea was to correct what economists call a market failure, because foreclosures can be a losing proposition for everybody involved. Not only do borrowers end up losing their homes, but a bank39s loss from a foreclosed mortgage can actually be

Foreclosure Sale Of Abbott Sports Complex Delayed Lincoln Journal Star
Lincoln Journal Star Foreclosure sale of Abbott Sports Complex delayed Lincoln Journal Star Attorneys have agreed to delay a foreclosure sale of Abbott Sports Complex originally set for later this week. Frank Mihulka, an Omaha attorney and trust manager for the Ethel S. Abbott Charitable Foundation, told Lancaster County District Judge Susan

Clearwater Attorney Accused Of Condo Foreclosure Trickery Fights Tampabay.com
Tampabay.com Clearwater attorney accused of condo foreclosure trickery fights Tampabay.com The Clearwater lawyer accused of tricking a bidder into paying 458100 for a gulf front condo now plans to contest a judge39s order tossing out the sale. and more raquo

County Rejects Resolution On Foreclosure Bill WMUK
County Rejects Resolution on Foreclosure Bill WMUK A number of Michigan counties have come out against a bill that would change the state39s tax foreclosure laws, but Kalamazoo won39t be joining them. On Tuesday the Board of Commissioners narrowly defeated a resolution protesting the legislation. The

Abbott Sports Complex Owners File Lawsuit To Stop Foreclosure Sale Lincoln J...
Lincoln Journal Star Abbott Sports Complex owners file lawsuit to stop foreclosure sale Lincoln Journal Star The owner of the Abbott Sports Complex has filed a lawsuit seeking to stop a foreclosure sale of the facility later this week. The Lincoln Sports Foundation filed the suit Friday in Lancaster County District Court. It seeks a temporary restraining

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Facts of Law explaining the foreclosure process

Facts of Law - Foreclosure