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In a strict foreclosure, the court sets the redemption period, which is the time between the judgment and the Law Day. The Law Day can be as soon as 21 days after the court enters a judgment of strict foreclosure, but it's typically between 45 and 90 days after the judgment.
A Master Form is a central document where all necessary data can be inputted and can be used to generate multiple copies.
Definition of 'Master Mortgage' The Master Mortgage is a document created when a property is purchased for the first time. It is filed in the public land records and its purpose is to keep track of the initial mortgage and of any liens that might be associated with the property.
A short form mortgage shall set forth the date on which it is executed, the names of the parties thereto, the amount of the indebtedness secured or to be secured thereby, the description of the real property mortgaged as security for the indebtedness, and a statement incorporating by reference the general provisions, ...
Rule 7.1. A communication is false or misleading if it contains a material misrepresentation of fact or law, or omits a fact necessary to make the statement considered as a whole not materially misleading.
The lender keeps the original promissory note until you have fulfilled all obligations, i.e., paid off, your mortgage.