Finding these types of homes can be difficult and very time consuming. however. being first to find them could save you thousands of dollars. Get your free list of these homes emailed directly to you as soon as they become available. This list includes pictures. addresses and prices. 

• The 'power of sale' is the right of the mortgagee (lender) to force that a property without judicial proceeding, should default occur. 
• This is the most frequently used method by which a lender will remedy a default by the mortgagor (borrower). 
• The term power of sale indicates a sale under the power contained in the mortgage document. 
• The lender proceeding pursuant to a power of sale must follow strict rules.
 • The lender must send notice to the borrower, stating the amount due & date by which t arrears plus costs must be paid. 
• The power of sale can often be the fairest, most inexpensive with an unpleasant financial circumstance. 
• The lender has an obligation to sell the property for the fair market value.
• It allow the lender to retrieve the only what is entitled to and the borrower gets any surplus.
• The lender, who sells a property for less than the outstanding debt, may sue the borrower for the shortfall. 
• The lender will give no warranties with respect to the state of the property or even the ownership of any chattels on the property. 
• If you are considering purchasing a home being sold by power of sale & have any legal questions about the contract you should speak with your lawyer. 

Power of Sale

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