[WSBARP] Foreclosure of multiple properties

[Craig Gourley]

Listmates,  I should know this but can't remember. Client has 3 adjoining properties 1 commercial and 2 residential.  Old private financing covers all three parcels with a remaining balance of maybe 25 percent of FMV. For various reasons owner can not refinance. If owner defaults can lender take all three parcels or would they need to auction one at a time? Or one at a time subject to an aggregate bid? Or one at a time until debt is satisfied? Thanks on advance.

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