Foreclosure & Alternatives Law

How Can a Lender Foreclose on a Property in Vermont?

Vermont is a strict foreclosure state. That means that until the mortgage is paid in full, the lender is considered the legal owner of the property and if the borrower defaults on any terms of the mortgage agreement then the lender may take possession of the property and sell it. However, before the lender does so the lender must go to court and the court must issue a decree of foreclosure.