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Under Real Contracts

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US-1340925BG
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Description

The term agent is derived from the Latin word “agens,” meaning to do or to act. Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal.  For example, an agent may negotiate and make contracts with third persons on behalf of the principal. Agency Agreement for Collection of Payments under Real Property Contracts is a legally binding document between a lender or creditor and a collection agency that authorizes the agency to collect payments under real property contracts. This agreement sets forth the duties and responsibilities of both the lender/creditor and the collection agency. The lender/creditor typically agrees to provide the collection agency with the necessary information and documents required to collect payments from the debtor. The collection agency is responsible for collecting the payments from the debtor, providing the lender/creditor with periodic reports and payments, and providing customer service to the debtor. Types of Agency Agreement for Collection of Payments under Real Property Contracts include mortgage collection agency agreements, deed in lieu collection agency agreements, and foreclosure collection agency agreements.

Agency Agreement for Collection of Payments under Real Property Contracts is a legally binding document between a lender or creditor and a collection agency that authorizes the agency to collect payments under real property contracts. This agreement sets forth the duties and responsibilities of both the lender/creditor and the collection agency. The lender/creditor typically agrees to provide the collection agency with the necessary information and documents required to collect payments from the debtor. The collection agency is responsible for collecting the payments from the debtor, providing the lender/creditor with periodic reports and payments, and providing customer service to the debtor. Types of Agency Agreement for Collection of Payments under Real Property Contracts include mortgage collection agency agreements, deed in lieu collection agency agreements, and foreclosure collection agency agreements.

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Under Real Contracts