What Should a Prudent Mortgagee Do When a Mortgagor Defaults

question 36

Essay

What should a prudent mortgagee do when a mortgagor defaults on the mortgage and abandons the mortgaged property?

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Definitions:

Arrests

The act of legally detaining a person as a response to suspecting them of committing a criminal offense, pending further investigation or legal action.

White-Collar Crime

White-collar crime refers to financially motivated, nonviolent crime committed by business and government professionals.

Underdetected

Refers to conditions, diseases, or phenomena that go unnoticed or are diagnosed less frequently than they actually occur.

Underprosecuted

Refers to instances where legal actions or criminal prosecutions are insufficiently pursued or carried out.