Real Estate
Jun. 10, 2003
Foreclosing Beneficiaries Run Risks When Bidding on Property
BY WILLIAM J. BERNFELD Noting that the state is burdened by a multibillion-dollar deficit, a poor job market, a weak technology sector and slumping exports, the winter UCLA Anderson forecast concluded that the state won't experience healthy growth until 2004. As lenders become the beneficiaries of properties for which loans are in default, it makes sense to review some of the rules applicable to foreclosure sales and, in particular, the rules governing credit bidding.
BY WILLIAM J. BERNFELD
Noting that the state is burdened by a multibillion-dollar deficit, a poor job market, a weak technology sector and slumping exports, the winter UCLA Anderson forecast concluded that the state won't experience healthy growth until 2004. As lenders become the beneficiaries of properties for which loans are in default, it makes sense to review some of the rules applicable to foreclosure sales and, in particular, the rules governing credit bidding....
Noting that the state is burdened by a multibillion-dollar deficit, a poor job market, a weak technology sector and slumping exports, the winter UCLA Anderson forecast concluded that the state won't experience healthy growth until 2004. As lenders become the beneficiaries of properties for which loans are in default, it makes sense to review some of the rules applicable to foreclosure sales and, in particular, the rules governing credit bidding....