Any idea about the above? I realise that a mortgage is similar, but the lender cannot choose to take the collateral, but rather may only do so if the borrower doesn't keep up with payments. Is there any arrangement in which the lender can choose to take the real estate whenever they wish?
Or is that simply too complicated / harsh in reality?
Aggressive debt funds have been known to incorporate some less than ideal clauses into loan docs that allow them to default the loan and take keys.
oh really? That's crazy, I've never heard of that before!
Could you please provide me with some links to read up on that?
thank you!
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