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Question by borrowerhotline: CA. Foreclosure question! What is the lenders “Power of Sale”?
Knowledge is often the best means to verify qualifications. There are a lot of “stop foreclosure” company’s willing to help people. Good or bad intentions are unknown. If the public will ask a few key questions they can usually tell right away if the source is legitimate or a predator. So here is one I think is very important to know regarding foreclosure.. . take a shot!

Best answer:

Answer by LadyCatherine
The power of sale can often be the fairest, most inexpensive method to deal with an unpleasant financial circumstance. It allows the mortgagee/lending institution to retrieve only what it is entitled to and no more. If there is a surplus, then the owner/mortgagor will benefit. The power of sale does represent certain complexities, particularly in terms of gaining possession and the obligation of the mortgagee to obtain the best possible value

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