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Posted On: August 26, 2010 by Scott Sagaria

What is a Non-Judicial Foreclosure?

A San Jose bankruptcy attorney addresses:
What is a Non-Judicial Foreclosure?

Non-judicial foreclosure is one of two main types of foreclosures, the other being judicial foreclosure. In a non-judicial foreclosure, sometimes known as foreclosure by power of sale, the lender may supersede or bypass the judicial process of foreclosure and sell the property in order to satisfy the loan by the lender. This only occurs if and when the borrower defaults on their monthly obligations and either ignores or cannot comply with the request by the lender to cure the default. The terms and conditions of a non-judicial foreclosure are typically outlined in the lender’s mortgage papers. The highest bidder at the non-judicial foreclosure sale becomes the outright owner of the property free and clear of all interest from the former owner but superior liens may survive the sale. For more infomation on foreclosure, please contact us toll-free.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

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Posted In: Foreclosure

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