Judicial Foreclosure

A judicial foreclosure is a foreclosure ordered by the court in connection with a lawsuit brought by the Bank on the note.  Court costs, attorneys’ fees, and the various expenditures necessitated by litigation will be involved in a judicial foreclosure proceeding.  Foreclosure of a lien for a home equity loan or a reverse mortgage are special proceedings which are expedited judicial foreclosures.  The focus of this Chapter is nonjudicial foreclosures.  Judicial foreclosures require Bank counsel.