Get the free Pre-Foreclosure Sale Addendum Mortgagee Loan Number

Foreclosure Sale Addendum Mortgagee: Mortgagee Loan Number: Address of Property: Date of Purchase Contract: / / Seller: Buyer: Seller: Buyer: Sellers Agent/Listing Agent: Buyers Agent: Escrow Closing

How to fill out pre-foreclosure sale addendum mortgagee

How to fill out pre-foreclosure sale addendum mortgagee?

1. Understand the purpose: The pre-foreclosure sale addendum mortgagee is a legal document used in real estate transactions during the pre-foreclosure stage. It allows the mortgagee, who is the lender or lien holder, to provide consent for the sale of the property.
2. Obtain the form: You can typically find the pre-foreclosure sale addendum mortgagee form from your mortgage lender or on their website. Make sure you have the most recent version of the form.
3. Gather property information: Fill out the necessary details about the property being sold. This may include the property address, unique identifiers (such as parcel numbers), and any additional information required by the form.
4. Identify the parties involved: Clearly state the names of the mortgagee (lender), mortgagor (borrower), and the buyer who is interested in purchasing the property.
5. Provide consent: The mortgagee must give their consent for the pre-foreclosure sale. This consent acknowledges that the lender is approving the sale of the property, often at a price that may be lower than the outstanding mortgage balance.
6. Sign and date: The mortgagee should sign and date the pre-foreclosure sale addendum mortgagee form. Ensure the form is properly executed and meets any additional requirements set forth by your jurisdiction.

Who needs pre-foreclosure sale addendum mortgagee?

1. Mortgage lenders or lien holders: The mortgagee, who is the lender or lien holder of the property, needs the pre-foreclosure sale addendum mortgagee to provide consent for the sale. This document protects their interests and ensures the transaction can proceed smoothly.
2. Borrowers facing foreclosure: The mortgagor, or the borrower who is facing foreclosure, typically needs this addendum to obtain the mortgagee's consent for the pre-foreclosure sale. This allows them to sell the property and potentially avoid the full impact of foreclosure.
3. Potential property buyers: The buyer interested in purchasing a property in pre-foreclosure may need the pre-foreclosure sale addendum mortgagee form to have the necessary consent from the mortgagee. This document ensures that the sale is legally authorized and prevents any future disputes regarding the property's ownership.

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