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Mortgage Sale Notice – Shiawassee County, Michigan
Table of Contents
This document details a public notice regarding a mortgage sale, outlining the legal process and relevant details for interested parties. It concerns a property located in Shiawassee County, Michigan, and a mortgage originally held by James B. Nutter & Company.
Legal Basis for the Sale
This mortgage sale is conducted pursuant to the terms and conditions outlined in a specific mortgage agreement. The power of sale, which allows for this process, is explicitly stated within that mortgage. This means the lender has the legal right to sell the property to recover outstanding debt when the borrower defaults on the mortgage terms.
Key Parties Involved
- Mortgagor: Dorothy M hill, an unmarried woman (the original borrower).
- Mortgagee: James B Nutter & Company (the original lender).
- Register of Deeds: The county office where the mortgage was officially recorded.
Mortgage Details
The mortgage in question was created on February 1st, 2008, by Dorothy M Hill in favor of James B Nutter & Company. It was officially recorded in the office of the Register of Deeds for Shiawassee County, Michigan, on February 12th, 2008.The recording details are as follows:
- Liber: 1119
- Page: 699
The mortgage has as been assigned to another entity,though the specific details of that assignment are not provided in this initial notice. Further inquiry with the Shiawassee County Register of Deeds would be necessary to determine the current mortgage holder.
Understanding the Power of Sale
The “power of sale” clause within a mortgage is a critical component. It allows the lender to bypass the customary court foreclosure process and sell the property directly to recover the outstanding debt. This is a faster and frequently enough less expensive method for lenders, but it requires strict adherence to legal notification requirements, such as this public notice.
Next Steps & Crucial Considerations
This notice serves as a formal announcement of the impending mortgage sale. Individuals with an interest in the property – including Dorothy M Hill, potential buyers, and any other parties with a claim on the property – should take immediate action. This may include:
- contacting the current mortgage holder: To understand the outstanding debt and potential options for resolving the situation.
- Consulting with a legal professional: To understand your rights and obligations.
- Attending the sale: If you are interested in bidding on the property.
FAQ
What is a mortgage sale?
A mortgage sale, also known as a foreclosure sale, is the process by which a lender sells a property to recover the outstanding debt owed by the borrower.
Where can I find more information about this specific sale?
You can find more detailed information,including the date,time,and location of the sale,by contacting the Shiawassee County Register of Deeds office or the current mortgage holder. You may also find notices published in local newspapers.
What are my rights as a potential buyer?
As a potential buyer, you have the right to inspect the property and review the terms of the sale. It’s highly recommended to conduct a title search to ensure there are no outstanding liens or encumbrances on the property.
Disclaimer
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