Strict Foreclosure

Strict Foreclosure: The Second Bite of The Apple

Strict Foreclosure: The Second Bite of The Apple

When a mortgage is foreclosed, not only are the rights of the owners of the property extinguished, but all rights of third parties who have subordinate liens or other interests are extinguished, as well as the property, which will be sold at the foreclosure sale “free and clear” of any such interests.