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URL:https://www.learndesk.us/class/5224100152737792/lesson/02ad823f421ec7b0234915db2340b230?ref=outlook-calendar
SUMMARY:Foreclosures and Short Sales Snapshot Review 8
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/5224100152737792/lesson/02ad823f421ec7b0234915db2340b230?ref=outlook-calendar
DESCRIPTION: FORECLOSURES AND SHORT SALES
Enforcement 
● enforcement of mortgage lien by a tax foreclosure sale, deed in lieu of foreclosure, or short sale
Foreclosure 
● enforcement of liens through liquidation or transfer of encumbered property by judicial, non-judicial, or strict foreclosure ● judicial: lawsuit and court-ordered public sale; deficiency judgments, redemption rights; used in Florida ● non-judicial: "power of sale" granted to lender; no suit; no deficiency judgment; no redemption period after-sale ● strict: court orders legal transfer of title directly to the lender without a public sale
Deed in lieu of foreclosure 
● defaulted borrower deeds property to the lender to avoid foreclosure
SHORT SALES 
Transaction benchmarks
● short sales are necessary when the seller owes more on the mortgage than the property is worth● lender must agree to the short sale price and terms ● benchmarks: lender sets terms using BPOs; agent lists, markets; offers presented to lender for approval;...

https://www.learndesk.us/class/5224100152737792/lesson/02ad823f421ec7b0234915db2340b230?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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