RES 301 Week 3 Discussion 1 Foreclosure / Principles of Real Estate
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Foreclosure. 1st Post Due by Day 3. For your own state, determine whether:
1. It is a judicial or non-judicial foreclosure state.
2. The standard home loan is based on a deed of trust or a mortgage.
3. There is a statutory right of redemption and, if so, how long.
3. There is a statutory right of redemption and, if so, how long.
4. Deficiency judgments are allowed against defaulted homeowners.
Based on this information, can you judge whether your state is relatively lender friendly or borrower friendly? Explain. For assistance answering these questions, please use foreclosureassistance.com and foreclosures.com. Respond to at least two of your classmates' posts.
Based on this information, can you judge whether your state is relatively lender friendly or borrower friendly? Explain. For assistance answering these questions, please use foreclosureassistance.com and foreclosures.com. Respond to at least two of your classmates' posts.
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