Judicial foreclosure

Judicial foreclosure

In the lawsuit the most common scenario is that the borrower doesn't respond and the lender receives a judgment by default and can proceed to have a referee appointed by the court. The lender then advertises the sale for four to six weeks and then, if full payment hasn't been made, a public sale is held, typically on the courthouse or town/ciy hall steps. The time frame for this entire judicial foreclosure process is usually between 4 and 6 months, although the process can take as little as 3 months to as long as 12 months.

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