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Forum		Topics	Posts	Last Post
How to Stop Foreclosures
	How to Stop Foreclosures Topics on how to stop home foreclosures	23350	31081	Sun Sep 07, 2008 3:20 pm benderkoz
	Foreclosure Laws There are two type of foreclosures - judicial and non-judicial foreclosure. Here are the definitions: Judicial Foreclosure The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder. Non-Judicial Foreclosure The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Each state has different law whether lender can foreclose your home wiht judicial or non-judicial foreclosure. You can post your questions here for help.	453	514	Sun Sep 07, 2008 2:35 pm new-nickname-zanovo

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