Mortgagee in Possession

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January 1, 1 6 min read Definitions

Mortgagee in Possession Foreclosure Property Possession Lender Control Real Estate Debt Collection Mortgage Law Income Production

A 'Mortgagee in Possession' situation arises when a lender takes possession and control of a mortgaged property following the foreclosure of a loan secured by the mortgage. The lender holds the property, collecting any income produced, until it is sold at the foreclosure sale.

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