When more is not necessarily better: taking the pledge on real estate guarantees
Non-judicial foreclosure on commercial real estate in California is remarkably straightforward compared to the primary means for a lender to pursue real estate remedies in other jurisdictions. In the Golden State, the rules are set by law and, if followed, allow a lender to take title to their home security in about four months from filing a notice of default.
This is decidedly not the case in other states, particularly those that do require judicial foreclosure, a time-consuming petition practice that, according to court calendars, can take more than a year even in circumstances where the homeowner borrower offers little or no competition.
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