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Florida foreclosure auctions are not for the inexperienced and another example of that happened on June 8th. This is a case of why you should spend $150 for a title search before bidding. An Orlando couple thought they had gotten a kick-ass deal on a condo overlooking the Gulf of Mexico.
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STOCK LOANS ~ SECURITIES BASED LENDING What is ‘Securities-Based lending’. securities-based lending is the practice of making loans using securities as collateral. Securities-based lending (SBL) provides ready access to capital that can be used for almost any purpose such as buying real estate, purchasing personal property like jewelry or a sports car, or investing in a business.
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(The lender usually makes a credit bid at the foreclosure sale.) If the lender is the highest bidder, the property becomes REO. Certificate of sale. Under Florida law, the court clerk must promptly file a certificate of sale after the foreclosure sale takes place. (fla. stat. Ann. 45.031). This usually occurs within one day of the sale.
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(The lender usually makes a credit bid at the foreclosure sale.) If the lender is the highest bidder, the property becomes REO. Certificate of sale. Under Florida law, the court clerk must promptly file a certificate of sale after the foreclosure sale takes place. (Fla. Stat. Ann. 45.031). This usually occurs within one day of the sale.
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Lake County Clerk of Circuit and County Courts provides various services such as court services in support of the judiciary, the public and attorneys, management of official records of Lake County as well as passport and documentary stamp agent.