Do You Know Your Mortgage Reinstatement Rights?
Posted on November 22, 2009
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By definition, a mortgage reinstatement is restoring a loan after the lender files foreclosure against the borrower who never made payments, even after the given grace period. During the process of foreclosure, the lender will deactivate the non-paid loan until a trustee sale. Prior to a trustee sale, the borrower can still reinstate the mortgage loan up to five days before the foreclosure auction.
Source:Do You Know Your Mortgage Reinstatement Rights?
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