8 Tips To Help You Rent After Foreclosure
When a lender forecloses on a home, the homeowner may not be able to view or obtain the note. Even though the lender has not provided you with proof of the note, it does not mean that they cannot foreclose. It is important for homeowners to understand their rights and how foreclosure works if they are facing this situation.
In order for a lender to legally foreclose a property, there must be an existing loan between the two parties. The note serves as evidence of this loan and should be made available to both parties at any time upon request; however, lenders are often reluctant to provide homeowners with proof of their debt obligation. Although most states have laws which require lenders to produce evidence of the loan when filing for foreclosure, some do not have these protections in place.
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