Examining Foreclosure Process By Judicial Sale
In quite a number of jurisdictions, the only kind of foreclosure that may be practiced is “ foreclosure process by judicial sale”. There may other methods available in other jurisdictions, but in the United States, this method is the only one to be universally practiced. This kind of sales is a full legal proceeding, and as such, formal notifications are sent to all parties involved. The proceeds will satisfy the following in this order- mortgage, creditor or creditors, and finally the mortgager. There will be a trial and some sort of judicial decision afterwards.
