Q: What are the Types of Foreclosure?
b. 2 Types
i. Judicial Foreclosure occurs when the mortgagee goes to court to foreclose the mortgage and the court sells the property to satisfy the debt
ii. Private Sale occurs when the mortgage (the actual wording of the document) allows the mortgagee to sell the property at a private sale, sometimes at auction or with a realtor, to satisfy the debt
Are you a lawyer? Or, do you just knoooow the answer?
We have located some similar legal questions and legal question categories. Check out these challenging questions that askquestions about Foreclosure Education and are similar to What are the Types of Foreclosure?. Also, we have included a list of some of our more popular legal question categories. These categories are based on what everyone is asking and answering.
Similar Legal Questions
- Define Foreclosure of the Equity of Redemption.
- What do you mean by Due-On-Sale Clause?
- What are the Restrictions on Transfer by the Mortgagor?
- What is Secondary Mortgage Market?
- What happened in the case Starkman v. Stigmond (NJ 1982)?
- Whta do we have under Insurance and Real Estate Taxes?
- What are Mortgage Foreclosures?
- Define Mortgage.
- What is The Grantor as a Surety?
- What happened in the case McVeigh v. Mirabito (Fla. 1990)?
What's Your Answer to "What are the Types of Foreclosure?"