Judicial Foreclosure Proceedings

Judicial foreclosure is a legal process where a lender seeks to reclaim property after a borrower fails to make mortgage payments. It begins when the lender files a lawsuit in court. If the court rules in favor of the lender, it allows them to sell the property to recover the owed money. This process typically involves several steps, including notification to the borrower and a chance to contest the foreclosure. Ultimately, if the sale occurs, the proceeds go to pay off the remaining mortgage debt. Judicial foreclosure ensures that the process is conducted under court supervision, providing legal protections for all parties involved.