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Article: Navigating through foreclosure law complexities.
- Article from:
- Mortgage Banking
- Article date:
- February 1, 1992
- Author:
CopyrightCOPYRIGHT 1992 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lenders can avoid some foreclosure pitfalls if they have a working familiarity with the finer points of state foreclosure law.
Particularly in these times, with the economy performing so poorly and unemployment remaining stubbornly high, mortgage lenders would be wise to become more familiar with the legal procedures involved in foreclosing on real estate collateral. Being familiar with these legal procedures will help a lender communicate in a more meaningful way with legal counsel and hopefully help to avoid the pitfalls and costs associated with mortgage foreclosures. This article addresses some of the fundamental issues involved in foreclosing on real estate in ...