* There may be no summary judgment in possession proceedings against a mortgagor or a person holding over after the end of his tenancy whose occupancy is protected within the meaning of the Rent Act 1977 or the Housing Act 1988.

Lenders may also accelerate a loan if there is a transfer clause, obligating the mortgagor to notify the lender of any transfer, whether ; a lease-option, lease-hold of 3 years or more, land contracts, agreement for deed, transfer of title or interest in the property.

In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the mortgagor.

A common feature of such dispositions is that the owner mortgagor remains in possession and exercises all the attendant rights of ownership, which may be so overwhelming as to induce a third party to accept the same chattel as a security for a grant, albeit without notice of the first mortgagee.

In the event of non-payment of its mortgage-related obligations by the mortgagor, the mortgage bank may put the property up for a forced sale.

Impaired, that is, until lawyers concocted the bill of foreclosure, whereby a mortgagee could request a decree that unless the mortgagor paid the debt by a date certain ( and after the law date set in the mortgage ), the mortgagor would thereafter be barred and foreclosed of all right, title and equity of redemption in and to the mortgaged premises.

By statute the common law's position was altered so that the mortgagor would retain ownership, but the mortgagee's rights, such as foreclosure, the power of sale, and the right to take possession, would be protected.

Deficiency judgments can be used to place a lien on the borrower's other property that obligates the mortgagor to repay the difference.

Foreclosure by judicial sale, more commonly known as judicial foreclosure, which is available in every state ( and required in many ), involves the sale of the mortgaged property under the supervision of a court, with the proceeds going first to satisfy the mortgage ; then other lien holders ; and, finally, the mortgagor / borrower if any proceeds are left.

If a mortgage is taken, for instance, on a $ 100, 000 property and monthly payments are required, the mortgage holder can demand the mortgagor make good on the entire $ 100, 000 if the mortgagor fails to make one or more of those payments.

To complete the circle, one needs to understand that when a mortgagor fails to pay an installment when due, and the mortgagee accelerates the mortgage, requiring immediate repayment of the entire mortgage indebtedness, the mortgagor does not have a right to pay the past-due installment ( s ) and have the mortgage reinstated.

Under strict foreclosure, which is available in a few states including Connecticut, New Hampshire and Vermont, suit is brought by the mortgagee and if successful, a court orders the defaulted mortgagor to pay the mortgage within a specified period of time.

The judge renders judgment, ordering the mortgagor to pay the debt within a period of 90 – 120 days.

The mortgagee therefore never holds any title documents, and there is a statutory process for initiating and conducting a mortgagee sale in the event that the mortgagor defaults.

In some cases the mortgagee will waive the need for the mortgagor to carry homeowner's insurance if the value of the land exceeds the amount of the mortgage balance.

The borrower, known as the mortgagor, gives the mortgage to the lender, known as the mortgagee.

A mortgagor is the borrower in a mortgage — he owes the obligation secured by the mortgage.

In lien theory states, a mortgage or a deed of trust will create a mortgage lien upon the title to the real property being mortgaged, while the mortgagor still holds both legal and equitable title.

In title theory states, a mortgage is a transfer of legal title to secure a debt, while the mortgagor still retains equitable title.

The lien is said to " attach " to the title when the mortgage is signed by the mortgagor and delivered to the mortgagee and the mortgagor receives the funds whose repayment the mortgage secures.

Formally, a mortgage lender ( mortgagee ), or other lien holder, obtains a termination of a mortgage borrower ( mortgagor )' s equitable right of redemption, either by court order or by operation of law ( after following a specific statutory procedure ).

Should the mortgagor fail to do so, the mortgage holder gains the title to the property with no obligation to sell it.

Acceleration allows the mortgage holder to declare the entire debt of a defaulted mortgagor due and payable, when a term in the mortgage has been broken.

When a mortgaged tract of land is split up and sold, upon default, the mortgagee first forecloses on lands still owned by the mortgagor and proceeds against other owners in an ' inverse order ' in which they were sold.

* Deed in lieu of foreclosure, a deed instrument in which a mortgagor conveys all interest in a real property to the mortgagee to satisfy a loan that is in default and avoid foreclosure proceedings

* United Kingdom: Foreclosure is a little used remedy which vests the property in the mortgagee with the mortgagor having no right to any surplus from the sale.

Fraudulent concealment of a will material to the title by a vendor or mortgagor of land or chattels is, by the Law of Property Amendment Act 1859, a misdemeanour punishable by fine or imprisonment or both.

It is insurance to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property.

Today, a mortgagor refers to his interest in the property as his " equity.

In real estate, foreclosure is the termination of the of redemption of a mortgagor or the grantee in the property covered by the mortgage.

In this arrangement the lender, or mortgagee, is entitled to share in the rental or resale proceeds from a property owned by the borrower, or mortgagor.

In Graf v. Hope Building Corp., 254 NY 1 ( 1930 ), the New York Court of Appeals observed that in such a case, there was no forfeiture, only the operation of a clause fair on its face, to which the mortgagor had freely assented.

Upon default, the mortgagee proceeds against lot X first, the mortgagor.

`` The accommodations may not be the poshest, but man!!

The race problem has tended to obscure other, less emotional, issues which may fundamentally be even more divisive.

Accounts have been published of Northern liberals in the South up against segregationist prejudice, especially in state-supported universities where pressure may be strong to uphold the majority view.

Nevertheless, it may be helpful to cite one example -- that of employment -- for, as will be shown below, it cuts across both facets of the new concept.

A measure of its widespread acceptance may be derived from a statement of the International Congress of Jurists in 1959.

Recognizing that the Rule of Law is `` a dynamic concept which should be employed not only to safeguard the civil and political rights of the individual in a free society '', the Congress asserted that it also included the responsibility `` to establish social, economic, educational and cultural conditions under which his legitimate aspirations and dignity may be realized ''.

What these fragments are and how they activate the go order may not be revealed.

An example of the changes which have crept over the Southern region may be seen in the Southern Negro's quest for a position in the white-dominated society, a problem that has been reflected in regional fiction especially since 1865.

While there may still be many Faulknerian Lucas Beauchamps scattered through the rural South, such men appear to be a vanishing breed.

or it may involve more subtle distinctions: the sway may be gradually minimized or enlarged, its rhythmic emphasis may be slightly modified, or it may be transferred to become a movement of only the arms or the head.

The approach to the depiction of the experience of creation may be analytic, as it is for Miss Litz, or spontaneous, as it is for Merle Marsicano.