5 Things Banks Should Consider When Foreclosing

Law360, New York (May 21, 2009, 12:00 AM EDT) -- With borrower loan defaults on the rise, many banks are left with no choice but to pursue foreclosure actions against the real estate collateral pledged by borrowers. Unfortunately, there are usually no fast and easy solutions to bring defaulted loans current or to obtain title to the encumbered property.

In light of the long, involved process of judicial foreclosure, there are many factors banks should consider prior to, during and after filing a foreclosure action; however, it is important to note that the factors discussed below...
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