For your own state, determine whether: a. It is a judicial or non-judicial foreclosure state. b. The
Question:
For your own state, determine whether:
a. It is a judicial or non-judicial foreclosure state.
b. The standard home loan is based on a deed of trust or a mortgage.
c. There is a statutory right of redemption, and, if so, how long.
d. Deficiency judgments are allowed against defaulted homeowners.
Based on this information can you judge your state is relatively debtor friendly or borrower friendly
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In the United States a In a judicial foreclosure state the lender must file a lawsuit in court to fo...View the full answer
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Real Estate Principles A Value Approach
ISBN: 978-0077836368
5th edition
Authors: David C Ling, Wayne Archer
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