What Is a Foreclosure Order?
A foreclosure application is a means by which a mortgagee can exercise its foreclosure right. Generally, it applies to the court to make the mortgagee lose its right to redeem its collateral.
Foreclosure application
Right!
- Chinese name
- Foreclosure application
- Definition
- Means of mortgagee to exercise his foreclosure
- Application object
- Court
- Purpose
- Make mortgagee foreclose his collateral
- A foreclosure application is a means by which a mortgagee can exercise its foreclosure right. Generally, it applies to the court to make the mortgagee lose its right to redeem its collateral.
- The meaning of foreclosure is to deprive the mortgagee of the right to redeem and the mortgagee becomes the ultimate owner of the mortgaged real estate.
- Foreclosure, also known as "foreclosure", is the right that a mortgagee must apply to the court for a court order to exercise. We sometimes see it erected in front of a small building in the news. It reads the Foreclosure sign.
- For real estate, foreclosure refers to a process in which if the homeowner cannot pay the monthly loan amount on time within a certain period of time, the house will be confiscated by the loan company, and then sold through the auction company or real estate company. Of course, the price of such a house is lower than the market price.
- Foreclosure data:
- The latest data from the Mortgage Bankers Association shows that as of the end of June this year, more than 4 million U.S. homeowners have delayed mortgage payments or are facing foreclosure (foreclosure), which accounts for about the amount of mortgage held. 9% of the total number of homeowners on loan.