Strict Foreclosure

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January 1, 1 7 min read Definitions
Strict Foreclosure
Strict Foreclosure Mortgage Default Real Estate Law Mortgagee Rights Property Possession Foreclosure Proceedings
Strict foreclosure is a legal process wherein the mortgagee has the right to take possession of the mortgaged property directly if the mortgagor defaults on the mortgage agreement. This type of foreclosure is infrequently utilized in modern real estate markets.
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