Power Of Sale

The power of a mortgageeThe lender. or trusteeAn individual or institution that holds the legal title to an asset and administers it for the benefit when the instrumentAny writing having legal form and significance, such as a deed, mortgage, will, lease, etc. so provides to sell the secured propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. without judicial proceedings if a borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note. defaults in paymentPeriodic (usually monthly) installments paid to a lender to be applied toward repaying your loan. Payments of the promissory noteThis document represents the legal, contractual obligation of the debtor. The principal, interest rate, or otherwise breaches the termsThe specific conditions of a loan, including the requirements governing receipt and repayment of a loan. of the mortgageIncludes all forms of debt for which real property, that is, land and/or buildings, is given as security. or deed of trustThe document used in some states instead of a mortgage; title is conveyed to a trustee. In some states,.