The courts have inherent power to restrain the sale of mortgaged premises in foreclosure proceedings, but are reluctant to exercise such power except where it is shown that particular circumstances, extrinsic to the instrument, would render its enforcement in this manner inequitable and work irreparable injury, and that complainant has no adequate remedy at law. Furthermore, a party must show a probable right of recovery in order to obtain a temporary injunction of a foreclosure action.
A Guam Petition to Enjoin Foreclosure Sale and Seeking Ascertainment of Amount Owed on Note and Deed of Trust is a legal document filed in Guam's judicial system. It involves attempts to halt a foreclosure sale of a property and seeks to determine the exact amount owed on the promissory note and the deed of trust securing the loan. The filing of this petition aims to protect the property owner's rights and interests in a foreclosure situation. This type of petition can involve various scenarios or circumstances. Different types may include: 1. Residential Property Foreclosure: In this case, a homeowner is facing a foreclosure sale on their residential property, such as a house or a condominium. They file the petition to put a stop to the sale and ascertain the accurate amount owed on their mortgage loan. 2. Commercial Property Foreclosure: This type of petition is relevant when a business entity is facing a foreclosure sale on their commercial property, such as an office space, retail store, or industrial building. The petition seeks to halt the foreclosure and establish the precise amount due on the note and deed of trust. 3. Judicial Foreclosure Petition: This refers to a petition filed when a foreclosure sale is being pursued through the court system. The petitioner may request an injunction to stop the sale and seek an accurate determination of the outstanding loan balance. 4. Non-Judicial Foreclosure Petition: This type of petition is applicable when a non-judicial foreclosure process is being followed. Non-judicial foreclosures involve the use of a power of sale clause in the mortgage or deed of trust, allowing the lender to proceed with the foreclosure sale privately, without court involvement. The petitioner may seek to halt the sale and establish the amount due. The Guam Petition to Enjoin Foreclosure Sale and Seeking Ascertainment of Amount Owed on Note and Deed of Trust is a critical legal tool for property owners trying to protect their rights and financial interests. By filing this petition, they can attempt to prevent a foreclosure sale, which in turn provides an opportunity to negotiate with the lender, challenge any discrepancies, or explore alternative resolutions to resolve their mortgage arrears.
