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  • Will You Add? - Strict Foreclosure Explained

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    u of foreclosure, except the borrower does not have the
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    A "strict foreclosure" is a foreclosure proceeding in which the lender is entitled to take possession of the property directly upon default of the mortgage agreement.

    Strict foreclosure is very similar to a deed in lieu of foreclosure, except the borrower does not have the

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    ich the lender is entitled to take possession of the property directly upon default of the mortgage agreement.

    Strict foreclosure is very similar to a deed in lieu of foreclosure, except the borrower does not have the

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    perty directly upon default of the mortgage agreement.

    Strict foreclosure is very similar to a deed in lieu of foreclosure, except the borrower does not have the

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    Strict foreclosure is very similar to a deed in lieu of foreclosure, except the borrower does not have the

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    u of foreclosure, except the borrower does not have the option to refuse. Their only course of action if they wish to fight the proceeding is to take the matter to court.

    In simple terms, the mortgage agreement states that the lender owns the property until the mortgage has

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