/biz/ - Business & Finance

Legal anon here. There is almost no such thing a foreclosure in Australia, foreclosure is when a bank takes possession of the property and via a court order and extinguishes the owner’s legal and equitable rights as registered proprietor. This act also extinguishes the debt owed under the mortgage. Basically they become the owner and the borrower doesn’t owe anything but why would a bank want to own a house and have no debt owed to them?
Instead banks exercise what they call the power of sale to become “Mortgagee in Possession” (MIP) This means they come into possession of the property via a court judgment or via a voluntary surrender of the property in response to a default by the mortgagor. The mortgagor still owns the house but the bank just sells it to recoup the debt owed under the mortgage and if there is surplus sale funds, the mortgagor is awarded the surplus funds.
These sales are sometimes referred to as forced sales but they are definitely not foreclosures. It actually doesn’t make any sense why banks and the media use this word. Foreclosures are literally non-existent and if you don’t beleive me read this:
https://www.gadens.com/legal-insights/the-first-reported-foreclosure-in-queensland-for-35-years-an-innovative-litigation-solution/
A MIP sale is not a bargain sale though despite what OP suggests. Banks are bound to not disregards the mortgagors interests when conducting the sale. A practical illustration of this is the banks have to conduct repetitive valuations of the property to ensure the sale price they accept is as close to market as possible. If the property has LMI, this is even stricter.
Hope this was educational anons

>>49548277
Z gracias amigo, hablas español?

Currently holding 400k worth of Jr miners.

I'm not selling until 2025

>>30143576
>I did my DD and this piece of SHIT flunked the test.
ok, goodbye

>>29469082
BTC 60k by EOW.

>>29184713
Depends on where you live anon. $60-80/gram for some good shit from just south of the Mexican border where I am.

>>29116026
>>29116084
Chart looks pretty laid out, ready for pump.

>>28895497

>>26249269
Any musicians in this bitch?

>>25753259
actually contemplating bout it

Should i put my very small bag in chubby boy or go with AlienTech for those long term gains

>>20962801
what a nigger you are man

Vincular

>>18801576
¿Qué?

.

onions un mexicano
mi nombre es josé pero mis amigos me llaman pepe pupu

onions un mexicano
mi nombre es josé pero mis amigos me llaman pepe pupu

Ayuda /biz/ onions un mexicano pobre y necesito dinero para cruzar la frontera y vivir en la tierra de las oportunidades para volverme millonario. ¿Qué hago?

>inb4 kneepads

>>16994366
>>16993813
muy muy basado amigo mio

>>16253845
who is that? inb4 child porn. that is not cool anon. b/c i missed out on opportunities like this when i was in middle school or early high school; are you trying to trigger people who missed out b/c people don't want us to be happy. many of us feel incomplete and have to COOM to cope.

>>11561645

I would suggest you move out immediately when the golden bull cums. You won't like family when they get envious and butthurt.

>>9571393

>He doesn't know every coin is a shitcoin

>>8283662
These guys are taking the piss man lol
>notamonerominer.exe