Sentences with phrase «of judicial foreclosure»

In the case of a judicial foreclosure (which is very rare in California residential real estate) there is a chance a judge would issue a deficiency judgement, but this too is rare and could be discharged in bankruptcy.

Foreclosure sale rates in non-judicial states stood at approximately four times that of judicial foreclosure states in December.

The lender filed a notice of default on the borrower and was in the process of a judicial foreclosure.

A judgment of judicial foreclosure may be preferred by a credit in favor of a foreclosure of a mortgage or deed of trust to secure a «deficiency judgment» for any amount still owed by the debtor after the foreclosure sale.

Not exact matches

While non-judicial foreclosure is the norm in Idaho, there are also judicial foreclosures when the property exceeds 40 acres or the deed of trust doesn't allow foreclosure without a court order.

Homebuyers in the state will likely get a deed of trust which allows lenders to bypass a judicial foreclosure and instead initiate a «power of sale» foreclosure by simply hiring a third party to auction the home.

But in this case, the mortgage company can carry out an auction of the property rather than having the sheriff's office or local courts do it, which is what distinguishes it from a judicial foreclosure.

Power of sale foreclosure can occur much more quickly than judicial foreclosure because the trustee vested with the power of sale does not need court oversight to sell the property.

In Canada, there are two different procedures that dictate the way foreclosures are processed: Power of Sale and Judicial Sale.

You are not liable for the deficiency in judicial foreclosure for property with four units or less, seller - financed loans, or refinances of purchase - money mortgages executed after January 1, 2013.

You are not liable for the deficiency in non-judicial foreclosure or in judicial foreclosure on property with four or less units as long as you or a direct family member lives in one of the units.

Although Arizona allows both judicial foreclosure and power of sale foreclosure, power of sale is the most common.

In a judicial foreclosure, you are liable but the jury will determine the fair - market value of your home and you will have to pay the difference between that and the foreclosure price.

The Trustee has the power of sale thus bypassing a judicial foreclosure process.

Adam's prior experience includes commercial litigation involving breach of contract, judicial foreclosures, fraudulent transfers, business torts, and domestication and enforcement of judgments.

A foreclosure sale under a Deed of Trust does not have to follow the same procedures as a judicial foreclosure, which requires stricter parameters and a higher level of accountability; no judicial supervision is required for a foreclosure sale under a Deed of Trust in most states.

Successfully represented lender in chapter 11 bankruptcy estate to enforce creditor's rights regarding whether the automatic stay tolls the right of redemption subsequent to a judicial foreclosure.

He discussed recent decisions by the Massachusetts Supreme Judicial Court and the Massachusetts Appeals Court on Housing Court jurisdiction over foreclosure challenges, the authority of the Mortgage Electronic Registration System (MERS) to assign mortgages, and so - called «robo - signing» and its impact on Massachusetts lenders and real estate practitioners.

Beginning July 1, 2015 the Fifth Judicial Circuit will be participating in a local Foreclosure Backlog Reduction Initiative in an effort to reduce the backlog of pending foreclosure cases in our circuit.

Under enforcement the firm has dealt with issues ranging from judicial and non-judicial foreclosure to issues of monetary and non-monetary default, acceleration to legal and contractual lien, priority of creditors to transfer, enforcement of foreign judgments and conflict of law issues.

Represented clients in the acquisition and sale of real property, property financing, refinancing and private and judicial foreclosures

The bank asked that their appeal be heard because the issue of whether lenders who become owners of residential premises through a judicial process such as foreclosure are responsible for tenants» security deposits arises quite often and the RTDRS therefore had need of a precedent when faced with similar situations in the future.

An example would be section 38 (1)(b)(iv)(A) of Saskatchewan's Residential Tenancies Act, 2006, SS 2006, c R - 22.0001, which defines «new landlord» to include «a mortgagee of the residential property of a former landlord who... acquires title to the residential property by foreclosure or pursuant to a judicial sale of the residential property».

In October, however, filings spiked 7 percent from the previous month, and the month - over-month activity was much higher in the housing markets of California, Nevada, Arizona, and Florida, where the downturn was sharpest, as well as in markets where the judicial process held up foreclosure sales.

A little reality check on a default in a mortgage: depending on your province, a default in a mortgage can result in a power of sale, a foreclosure or a judicial sale.

Next students will go over taxation, with property taxes, other taxes, impact of taxation on financing arrangement, followed by foreclosure, a definition of foreclosure, loan default, judicial foreclosure, strict foreclosure, foreclosure by power of sale, and alternatives and remedies for foreclosure.

According to the California Association of Realtors, a deficiency judgment can be filed regarding a hard - money loan if the lender forecloses under a judicial foreclosure versus a trustee sale, or if the second loan is a hard money loan and the sales takes place as a trustee's sale.

Yesterday, Florida's foreclosure situation hit the national news again, as NPR picked up WUSF reporter Robin Sussingham's story, «Foreclosure Process Hammers Florida's Housing Market,» where the impact of Florida's judical process — and our state's judicial foreclosure system — is considered as a contributing factor to Florida having the highest foreclosure rate in the nation, -LSB-...]

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In a judicial foreclosure, you'll receive a Notice of Hearing to appear in court.

Last week, an Administrative Order was issued by the Chief Judge for the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida that will have a huge impact on Florida home owners and South Florida borrowers dealing with foreclosure issues.

This time, the banks are in the role of defendants in Florida foreclosure lawsuits filed in the bottle necked Florida judicial system.

Judicial foreclosure action is a proceeding in which a mortgagee, a trustee or another lienholder on property requests a court - supervised sale of the property to cover the unpaid balance of a delinquent debt.

There are two types of «foreclosures» available to a lender: a trustee's (sherriff's) sale and a judicial foreclosure.

They can also pay homeowners to leave, circumventing a court process for foreclosures that has led to big backlogs of nonperforming mortgages in judicial states including New York, New Jersey, Florida and Maryland.

Many homes and many Florida home owners are still dealing with the realities of losing their homes or condos in a Florida judicial foreclosure proceeding — and having to deal with the realities of a deficiency liability, as well.

A deficiency judgment is a judgment obtained by the lender in court against the borrower for the difference between the unpaid balance of the secured debt and the amount produced by sale or the fair market value of the security, whichever is greater, in a judicial foreclosure.

Homebuyers in the state will likely get a deed of trust which allows lenders to bypass a judicial foreclosure and instead initiate a «power of sale» foreclosure by simply hiring a third party to auction the home.

At the current rate of foreclosure sales, judicial foreclosure states would require 111 months to work through inventories of loans that are 90 or more days delinquent or in foreclosure.

In contrast, foreclosure sales in judicial states such as New York, New Jersey, and Vermont only make up 5 percent of home sales.

As time passes, the differences between markets in judicial and non-judicial states continue to increase, and a handful of markets, largely in the Midwest and Northeast, today are the hotbeds of foreclosure activity.

LPS found that half of all loans in foreclosure in judicial states have not made a payment in more than two years.

The general distinction between judicial foreclosure and non judicial foreclosure (trust deed) states, as well as lien theory and ownership states is only the tip of the iceberg.

For New York, is it because it's a judicial foreclosure state and they still have a ton of homes in the foreclosure process?

The Bureau filed an amicus brief supporting application of the FDCPA to judicial foreclosure proceedings that can lead to a deficiency judgment.

Afterwards, states without judicial review saw the resolution of foreclosures pick up relatively quickly, while foreclosures in «states with judicial reviews have been largely flat for well over a year,» Blecher says.

It takes an average of 806 days to complete foreclosure in the Sunshine State, which requires judicial review.

If the deed of trust, however, does not contain a power of sale language, (language in the mortgage that allows the mortgagee to sell the property) the lender may seek judicial foreclosure.