Foreclosure Certificate

Foreclosure Certificate

The Foreclosure Certificate is to a mortgage foreclosure action what a Title Search is to a real estate transaction. Commonly a Foreclosure Certificate will include basic information regarding ownership of mortgaged premises, the legal description of the mortgaged premises, a list of mortgages and assignments of record, necessary defendants to the action, a list of title exception and objections and a tax search.

Prior to filing a mortgage foreclosure action, the foreclosing mortgagee or their attorney will carefully review the Foreclosure Certificate so that the Foreclosure Complaint and ensuing action will enable a title company to issue clear title to a prospective purchaser at the REO stage. Numerous title issues could arise during this review which will need to be handled with care during the foreclosure action.