Real Estate

Judicial Versus Nonjudicial Foreclosures



Foreclosure is a little bit like gallbladder surgery: you know it exists, you hope you won’t have to go through it one day, but there’s no reason for you to learn more about it unless it actually might happen. Read the full article here: https://www.oflaherty-law.com/learn-about-law/judicial-and-nonjudicial-foreclosures

For those that have gone through foreclosure, they would likely take gallbladder surgery any day. In all seriousness, is it essential for homeowners to know that foreclosures are generally classified as being judicial or nonjudicial? The first answer: it mostly depends on what state in which you live. The second answer: the type of foreclosure isn’t your choice; it’s the lenders’.

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This video will discuss the difference between judicial and nonjudicial foreclosures and what that means for homeowners. We will answer the following questions: What is a Judicial Foreclosure?, How long does a Judicial Foreclosure take?, What is a Nonjudicial Foreclosure?, How long does a Nonjudicial Foreclosure take?, and Does it matter to the homeowner?

**None of the content in this series is intended as paid legal advice.

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