Posted on: 20th Oct, 2010 06:41 pm
Can a lender foreclose on a property without written notification with intent to take over the property via sale by the local authorities?
Hi Markilanders!
Welcome to forums!
The lender has to send a formal notification to the borrower informing him or her about the foreclosure of the property. If he doesn't do so, he cannot foreclose the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The lender has to send a formal notification to the borrower informing him or her about the foreclosure of the property. If he doesn't do so, he cannot foreclose the property.
Feel free to ask if you've further queries.
Sussane