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Special Report on

The Equity of Redemption

the equity of redemption special research report Photo by www.moneywise.co.uk
To understand the concept of equity of redemption it is necessary to understand the influences of equity upon money lending transactions involving the security of real property over many centuries. Under an old system mortgage, the legal title of the borrower was conveyed to the mortgagee and, upon redemption of the debt, the mortgagor was entitled to a reconveyance of the land which had been the subject of the security. The court of Chancery developed jurisdiction to set aside the legal title of the mortgagee by compelling the mortgagee to reconvey title to the mortgagor where the mortgagee refused ...
can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lien holders can also foreclose the owner's right of redemption for other debts, such as for overdue taxes, unpaid contractors' bills or overdue homeowners' association dues or assessments. The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property ( ...
REVIEWS AND OPINIONS
Equity Of Redemption
More specifically, a mortgage is a type of security for a debt. Although almost all mortgage agreements contain a promise to repay a debt, a mortgage is not a debt by and in itself. More importantly, a mortgage is a transfer of a legal or equitable interest in land, on the condition sine qua non that the interest will be returned when the terms of the mortgage contract are performed. This right of the borrower to repay the lender once the terms of the mortgage contract are fully satisfied is known, at law, as equity of redemption . Mortgage Law originated in the English feudal system in approximately the 12th century A.D. In the ... market research, surveys and trends
Florida Bar- Taking Notice of The Foreclosure Crisis | Matt ...
has been the perceived lack of support and attention this area of the law has been given by the established institutions like the Florida Bar. While we all acknowledge that the Bar has initiated many worthwhile programs and worked with other groups in response to the crisis, many believe that more must be done.  I see hopeful signs that the Bar is ready to do much more. I believe the foreclosure crisis presents the single greatest opportunity the Bar has had in generations to show the general public the very real value ethical and responsible attorneys provide for our communities. The interaction I receive when saving my ... market research, surveys and trends

SURVEY RESULTS FOR
THE EQUITY OF REDEMPTION

Clogging the Equity of Redemption: An Outmoded Concept? - [2002 ...
To understand the concept of equity of redemption it is necessary to understand the influences of equity upon money lending transactions involving the security of real property over many centuries. Under an old system mortgage, the legal title of the borrower was conveyed to the mortgagee and, upon redemption of the debt, the mortgagor was entitled to a reconveyance of the land which had been the subject of the security. The Court of Chancery developed jurisdiction to set aside the legal title of the mortgagee by compelling the mortgagee to reconvey title to the mortgagor where the mortgagee refused to do so, thus recognising ... industry trends, business articles and survey research
CLOGGING THE EQUITY OF REDEMPTION: AN OUTMODED CONCEPT
that date amounted to $1.47 million reflecting an effective rate of interest of 61.5 percent per annum. The court drew the inference that this was an ... industry trends, business articles and survey research
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WELLS FARGO BANK, N.A. v. SESSLEY
Appearing pro se, defendants-appellants Philip Sessley ("Mr. Sessley" or "appellants") and Leonadra Sessley ("Mrs. Sessley" or "appellants"), appeal the decision of the Franklin County Court of Common Pleas granting summary judgment to plaintiff-appellee, Wells Fargo Bank, N.A., as Trustee for Option One Mortgage Loan Trust 2001-C, Asset-Backed Certificates, Series 2001-C ("Wells Fargo" or "appellees"), and "cross-complaint" defendant-appellee, Sand Canyon Corporation, f/k/a Option One Mortgage Corporation ("Option One" or "appellees"). For ... market trends, news research and surveys resources

INFORMATION RESOURCES

512799 Missouri Law Review 72 No. 4.ps
gagor or the holder of the equity of redemption purchases at the foreclosure ...... the equity of redemption reacquires title from it. See Dorff v. ... technology research, surveys study and trend statistics
M.G.L - Chapter 183, Section 63A
  Section 63A. A mortgagee may, at the request of the owner of the equity of redemption, revise the rate of interest, extend the term of the mortgage or change the amount of the periodic payments of principal or interest, or both, of an existing note and mortgage from said owner which it holds on a one to four family, owner occupied residence located in the commonwealth; provided, however, that (i) no additional money shall be loaned or advanced thereon, except (a) in accordance with section twenty-eight A, or (b) for the payment of delinquent principal and interest on the original indebtedness to the extent that the ... technology research, surveys study and trend statistics
REAL TIME
THE EQUITY OF REDEMPTION
QUESTIONS AND ANSWERS
WikiAnswers - Equitable interest and legal interest
A right in or over land. It may comprise equitable ownership of the land (such as the interest of the tenant for life under a settlement), where the legal estate is owned by trustees; or the benefit of some other right over the land of another, such as an easement or rentcharge. Interests of the latter type can be legal or equitable, but under the Law of Property Act 1925 only interests owned on terms equivalent to a fee simple absolute in possession or a term of years absolute qualify as legal interests. A person interested in land is one who has rights in it. See also equitable interests . equitable interests - Interests in ...
What happens if a home forecloses and the auction only pays off ...
Will the second mortgage holders come after you or be able to put something (other than a foreclosure) on your credit like a judgement? Would they be ale to garnish wages or do anything crazy like that in the future? The reason for two loans was a first and second (100% loan) was used to purchase the home. The value dropped and the foreclosure auction will only be enough to cover the first mortgage. BTW this is for a friend so don't bother asking to buy the property because I am looking into it, thanks! Did the first or the second mortgage company foreclose on the property? I found this for you in wikipedia. Good luck.