Sentence examples for right to foreclose from inspiring English sources

They also get the right to foreclose on the homes, taking priority over mortgage lenders.

H.U.D. may have to offer to take over affected loans, since the rules gave lenders the right to foreclose.

The bank says it has the right to foreclose because the mortgage was assigned to it on Oct. 15, 2009.

She said that MERS's business model is legal in all states and that as a nominee, it has the right to foreclose.

Show Us," Fair Game, Nov. 28), Gretchen Morgenson questions "whether institutions trying to take back a property can prove they even have a right to foreclose at all".

If foreclosure is unavoidable, a bank must provide borrowers with proof of its legal right to foreclose before the process gets under way.

Although lawyers for troubled borrowers have contended for years that banks in many cases have not properly documented their rights to foreclose, the issue erupted in mid-September when GMAC said it was halting foreclosure proceedings in 23 states because of problems with its legal practices.

If ownership of the note has passed through many hands, a "chain of title" must be established to prove that the person who claims rights to foreclose on the home is the person actually owed money on the mortgage.

If the right of banks to foreclose is questionable, what of the right of banks to accept even garden-variety mortgage payoffs?

Such a release might also make it harder for borrowers to argue that MERS has no right, or standing, to foreclose on them.

She added that the findings also raise questions over the right of investors to foreclose on the borrowers who defaulted on their loans since the mortgage securities may be invalid.