Defining the Types of Home Foreclosures
There are two types of home foreclosure: judicial and non-judicial.
Judicial Foreclosure:Most of the states in the United States allow judicial foreclosures. This means the process is monitored by the judiciary court and usually begins with the filing of a lawsuit by the mortgage lender.
Non-judicial Foreclosure:In this type of foreclosure proceedings the court is not involved at all. The lender can make an announcement and sell the house at a public auction.