Posted by Dr Swampy on 6/26/06

More | Report Post

In the state of AL, upon a real estate (standard
residential) forclosure what is the remaining obligation
of the mortgagee? Simply put, if the borrower defaults,
bank sells property, is the mortgagee clear. If yes, is
the mortgagee clear even if the colateral property was
sold for less than the lein instrument?

Also, where can I find documentation to evedence the
answer to this question? After checking my loan documents,
they are silent as to actions after forclosure.

Thanks in Advance.

Alabama Residential Forclosure, 6/26/06, by Dr Swampy.

Torts Chatboard

LATEST POSTS | BY TOPICS | SUBMIT A POST