if there is a default on a mortgage the mortgagor after the foreclosure sale has the right of
Foreclosure Both mortgage possession/repossession and foreclosure are quite similar, with the main differential being the treatment of any funds that exceed the amount borrowed. In the case of mortgage possession or repossession, if the home is sold or auctioned for a price that exceeds the loan balance, those funds are returned to the consumer. In the case of foreclosure, the mortgage company retains all rights to proceeds from a sale or auction.
Promise In the law of contract, an exchange of promises is usually held to be legally enforceable, according to the Latin maxim pacta sunt servanda.
Making false statements shall be fined under this title, imprisoned not more than 5 years or, if the offense involves international or domestic terrorism (as defined in section 2331),[10] imprisoned not more than 8 years, or both....
Bill Knapp's By the end of 2002, the chain's last restaurant had closed.[7]