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Updated over 14 years ago,
HML actions in case of default
Originally posted by Jon Holdman:
I'm taking back a house this week because the borrower hasn't been able to sell it.
Jon, sorry for the thread drift, but I've been wondering, when the lender (you, in this case) forecloses on a house, are you required to auction it off? Or can you just take the house (and turn into a rental, a vacation home, storage for your hub cap collection, etc.)? Thanks.