The Dial-A-Law library is prepared by lawyers and gives practical information on many areas of law in British Columbia. If the default isn’t corrected (the loan must be brought current) within three months, a foreclosure sale date is established. The holder of your mortgage must publish notice of the foreclosure in the official county newspaper for public announcements where the real property is located for four consecutive weeks prior to the scheduled foreclosure.
The listings are easy to understand for those with little or no real estate experience to those with a plethora of knowledge in the real estate industry. Foreclosure begins with a default under the terms of the original promissory note or deed to secure debt.
Clinic participants receive information about the judicial foreclosure and mediation process, guidance on how to prepare and what documents to bring to court, and information about resources available to clinic includes materials and, often a presentation by a representative, from the State of Connecticut Department of Banking.
In some states, you may be required to pay a portion of your mortgage debt even after the home has entered foreclosure. The UCC Redemption Book gives you step by step instructions on how to prepare your UCC-1 Financial Agreement and your Commercial Lien, Security Agreement, Hold Harmless, Power of Attorney and Copyright Notice documents.
Instead the mortgagee realises the security through sale, the exercise of the power of sale also being regulated by statute. BUT the homeowner has the right of redemption,” which allows him or her to buy the home back from the successful bidder at the auction for 1 year after the sale.