Foreclosure is the process through which a lender seizes and sells a home or property after its buyer is unable to fulfill his or her repayment obligation. more Right of Redemption Definition
Consider another example: In a tax sale, a local government or "taxing body" sells a property in order to collect unpaid taxes. Through a quitclaim deed, the government conveys to the tax-sale buyer the interest it gained in the property under state tax foreclosure laws, and no more. Such a deed notifies the buyer that title might be clouded.
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How to Fight a Nonjudicial Foreclosure. If your foreclosure is nonjudicial, the process will not go through the court and you won’t receive a complaint or summons, or have an opportunity to file an answer. To fight a nonjudicial foreclosure in court, you’ll.
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Be extremely cautious of those who contact or advertise to people whose homes are listed for foreclosure, including anyone who sends flyers or solicits door-to-door. Loan Modification Fraud Many offers to rescue a home from foreclosure, which often promise to also save the homeowner’s credit, are deceptive, fraudulent or illegal.
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