Understanding Mortgages: Rights of Lenders & Borrowers Explained

This video provides a detailed exploration of real property mortgages, focusing on the rights and obligations of both lenders (mortgagees) and borrowers (mortgagors). Covering critical legal concepts like foreclosure, redemption rights, installment contracts, subordination agreements, and transfer of mortgages, this comprehensive guide is essential for legal professionals, real estate practitioners, and anyone involved in property financing.
Gain insights into judicial and non-judicial foreclosure, bankruptcy implications, and how mortgages are transferred between banks under the Uniform Commercial Code.
Key topics covered include:
Basics of Mortgages: Roles of the mortgagor (borrower) and mortgagee (lender).
Foreclosure Options: Judicial foreclosure, power of sale foreclosure, and borrower redemption rights.
Equity & Statutory Redemption: Protecting borrower rights during and after foreclosure.
Deeds of Trust: Differences from traditional mortgages and advantages for lenders.
Installment Contracts: Buyer obligations, forfeiture, and court considerations.
Subordination Agreements: Adjusting priority among multiple lenders.
Mortgage Transfers: Rights under assignments and the role of negotiable instruments.
Bankruptcy Impact: How automatic stays affect lender foreclosure actions.
Assumption vs. Subject to Mortgages: Liability differences for buyers and sellers.
Holder in Due Course: Protecting lenders' rights under the Uniform Commercial Code.
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