Foreclosure Types
Judicial ForeclosureA proceeding in which a trustee,a mortgagee or another lien holder on property legally asks a court-supervised sale of the property to pay the unpaid balance of a delinquent debt, typically a mortgage.
Non-judicial Foreclosure
The process of actually selling real property under a power of sale in a deed of trust or mortgage that is in default. In these foreclosure cases, however, the lender or bank is unable to get a legal deficiency judgment, which makes some title insurance companies reluctant to issue a policy.