Area of Expertise
Mortgage Enforcement
Mortgage enforcement is a broad remedy available to lenders to prompt borrowers to settle outstanding loans secured by a mortgage. Power of sale is one of the methods falling under the board definition of mortgage enforcement. The following outlines the services we provide to conduct a Power of sale:
- Client consultation and debriefing on the matter
- Making demand for the settlement of loan under the Mortgages Act
- Commencement of a civil suit to recover, amongst others, the outstanding loans and costs
- Service of a notice of power of sale
- Appointment of a real estate agent
- Conducting appraisals
- Engaging bailiffs to take control of the house
- Listing the subject property for sale
- Obtaining payout statements from lenders in priorities
- Preparation of closing documents and accounts
- Finalization of title deeds for registration
- Settlement of debts and discharge of mortgage/interest
- Reporting