Environmental Exposures and Lender Concerns

Environmental Assessments (Cont.) Foreclosure Undertake prior to foreclosure in appropriate circumstances? Does lender have internal procedures that ensure an analysis of whether foreclosure should wait till some type of assessment is undertaken? Scope to the particular property Do issues have potential to delay the sale? • Are there material issues that will need to be addressed? • Are alternatives to foreclosure available such as: Suing borrower on underlying note facilitating sale of collateral by defaulting borrower to a third party 37

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