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Jeffrey B. Steiner and Jason R. Goldstein, members of DLA Piper (US), write: Lenders seeking to enforce their loan documents must examine the circumstances leading to a borrower default carefully. While the principles of law suggest that all defaults are entitled to enforcement, given that foreclosure is an equitable remedy, lenders should consider the relative strength of their argument in light of possible borrower defenses. In many instances, lenders that wait for a 'clean' default will avoid the unnecessary delay caused by a borrower's argument for equitable relief.
March 18, 2009 at 12:00 AM
1 minute read
Presented by BigVoodoo
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