In foreclosure definition
In foreclosure means a property for which a secured party or taxing authority has initiated a foreclosure.
In foreclosure means a property for which a secured party or taxing authority has
In foreclosure means, as to any Mortgage Loan, that the first action necessary to be taken to commence Proceedings in foreclosure or a sale under power of sale under the law of the state wherein the Mortgage is to be enforced, has been taken, and such Proceedings are continuing, or should have been taken in accordance with applicable Investor standards. The term "IN LITIGATION" shall mean a legal action in foreclosure of a Mortgage Loan, or for a deficiency thereunder, in which the sale of the Mortgaged Property in foreclosure (whether by action, power of sale, or otherwise) has been delayed by reason of the defense of such action by the Mortgagor, or any other action commenced or pending which involves the Mortgage Loan. The term "REO
Examples of In foreclosure in a sentence
Tenant and its officers also covenant and warrant, at the time of Lease signature, that neither Tenant or any Tenant affiliate are: 1) in default under any terms and conditions of any other lease for real property, 2) In default for any monetary obligation, 3) In foreclosure on any real property, or 4) in bankruptcy codes.
Participant Stability Matrix: Home Ownership Readiness BASIC NEEDS In Crisis – 1 Surviving - 2 Stable - 3 Thriving - 4 Relationship to Banking Numerical Response • In foreclosure or may have no stable housing.
More Definitions of In foreclosure
In foreclosure means that (1) a notice of election and demand has been recorded in the office of the county clerk and recorder pursuant to section 38-38- 102, C.R.S., (2) an action has been filed in a court requesting an order of foreclosure, and/or (3) a notice of default and sale has been served pursuant to Chapter 38 of the Multifamily Mortgage Foreclosure Act of 1981. Real Property remains In Foreclosure until (1) the foreclosure proceedings are terminated without any transfer of title from the owner or (2) a party unaffiliated with the foreclosing party takes title to the Real Property and the Real Property becomes occupied by that title holder or persons authorized by that title holder.
In foreclosure or "Foreclosed" means a Mortgage Loan with respect to which foreclosure proceedings have been, or, under Seller's standard procedures or FHA/VA guidelines, should have been, referred to an attorney or have been instituted and are pending or have been completed, or a deed in lieu of foreclosure has been accepted or is pending. For purposes of this Agreement, a Mortgage Loan will be deemed to be In Foreclosure when the first action required by state law to be taken to commence proceedings in foreclosure, or a sale under power of sale, or other acquisition of title to the Mortgaged Property based upon a default by the Mortgagor under the Mortgage Note or Mortgage, under the law of the State wherein the Mortgage Loan is to be enforced, has been taken or should have been taken.
In foreclosure means a Mortgage Loan with respect to which the foreclosure process has been initiated (including, without limitation, the referral to legal counsel for institution of foreclosure) or is pending (whether by way of judicial foreclosure, under power of sale, or otherwise), or should have been instituted by the Company under its normal operating procedures, or the Mortgage Loan Requirements, regardless of whether the matter has been referred to an attorney, or a deed in lieu of foreclosure is pending.