Injunction

It’s a Court order to the debtor (mortgagor) to fulfil his obligation (ex. payment of an amount of money) and resolve the default within a certain period of time (normally 40 days). After this deadline the injunction becomes enforceable and foreclosure will initiate on the debtor’s property. The injunction can also be declared immediately enforceable and the mortgagor does not have the 40-days-time to pay back his debt or to object to it. This claim can be accepted if the credit is based on a bill of exchange, a regular bank cheque, a bank draft, a certificate of stock-market liquidation or on an order received by a notary or other authorized public official.

2016-09-16T16:48:29+00:00