nonjudicial foreclosure: What Is A Non Judicial Foreclosure - 07/21/10 03:43 AM
What Is A Non Judicial Foreclosure| Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes. Most Foreclosures in California are Non-Judicial foreclosures.
In a Non-Judicial Foreclosure there must be a power of sale clause in the mortgage/loan document or deed of trust. This is a clause saying that the home owner agrees to allow the lender to sell the home in the event the buyer defaults on the loan. Of course there are a number of steps involved that allow the home owner to “make good” on the loan by catching up … (0 comments)