OK, well since you "did your homework", let's have it. Lets see your example of the acceleration of a loan due to a changing LTV. Make sure it's a residential loan, since that's what we're talking about. Please provide link. OldTrader
LOL! No, a mortgage does not convey legal title to the lender. A mortgage is simply the security instrument for the debt. In the case of default in the payments, the lender typically files a lawsuit to foreclose, called a judicial foreclosure. This is about half the states. Each state may have some nuances. What you may be confusing this with is that the other half of the states are what they call "deed of trust states". In a deed of trust state, there is no "mortgage". Instead, there is a note, and a deed of trust which serves as the security instrument that secures the note to the property. The deed of trust names a trustee, usually a title company or lawyer. This lender notifies the trustee if the payments are in default, and the trustee commences the foreclosure according to state law. The foreclosure in other words avoids court, and therefore is typically less time consuming. What may have confused you is that the trustee in a "trust deed state" holds "power of sale", or sometimes called "bare legal title". In other words, they may sell the property if certain requirements are met as set forth in the deed of trust and in accordance with state law. This is typically a default in the payment, after which the borrower is notified, given certain time to bring the loan current, and if it isn't, then the property is sold on the courthouse steps by the trustee. OldTrader
I sent a note to you on this. I can't get into a position of yelling at other thoughtful members or posting something that may mislead. As for you GTS - you can go fck yourself.
very good observation, lindq! i've never seen a woman who is able to save any money... the root of american debt problems is how american women deal with financial matters and how they influence men.
My American wife bought a $230k townhouse and a $440k home all by her little helpless female lonesome... And she is stacked..... I am lucky.