Non-Judicial Foreclosure States List

Non-Judicial Foreclosure States List

There are many different types of nonjudicial foreclosure states that a homeowner can look through to determine what conditions they are interested in working with. By knowing which type of nonjudicial foreclosure you would like to work with, the process of rebuying a home can be much smoother and a lot less expensive. It’s a smart move to seek legal aid on to decide what is your options.

What Happens in Non-Judicial Foreclosure

One thing that is very common with nonjudicial foreclosure states that the bank’s time to foreclose on the property is much shorter than judicial states. The minimum period required for a bank to take back your home, in this case, is ninety days. A few states allow the homeowner's a couple of months to cure the default and regain possession of the property, but once the ninety-day period has run out, they lose the right to the home. The courts in these cases deal with the foreclosure as if it were a judicial foreclosure. This means that the homeowner will be forced to go before a judge and prove that they are behind on their mortgage.

You should pay close attention to when looking at any nonjudicial foreclosure state's list because they do not offer much flexibility. Most states list the exact time frame in which the foreclosure must occur. In most states, this is the first month of delinquency. If you miss the first month, you automatically lose your chance to save your home from foreclosure. While this will not prevent the foreclosure from taking place, it does mean that you have less time to work with and will have to come up with alternative plans to keep your home in the picture.

Why Judicial Foreclosure is Better

Non-judicial foreclosure laws are so harsh because they are designed to prevent the abuse of the foreclosure process. Many people purposely forget about their lease agreements and consciously fall behind on the payments. This often results in the lender going to court to get the authority to take your home through foreclosure. 

The nonjudicial foreclosure laws give the courts the power to decide whether or not the lender has a right to bring a court battle. The state courts are more likely to side with the lender. This can mean that you have little to no chance of saving your home from foreclosure. Knowing which types of foreclosure and details of the proceedings, it’s essential. Here’re non-judicial foreclosure states list: 

Alabama, Alaska, Arizona, Arkansas, California, Colorado**, District of Columbia (sometimes), Georgia, Idaho, Maryland**, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming.

**With court supervision.

The other thing that you need to watch out for is the nonjudicial foreclosure laws in non-states. There is no room for a trial to determine whether the homeowner could keep their property. Your home is deemed to be in default when you miss your lease agreement by a certain point. This means that your home is taken right away and sold to the highest bidder at auction.

This process is ruthless and can leave the homeowners behind in a lot of debt. Unfortunately, this is a necessary element in ensuring that the country has enough well-functioning homes. You want to make sure that you are fully prepared for nonjudicial foreclosure. This will give you the best chances to save your home from foreclosure. But it all starts with making sure that you know the foreclosure laws for your state.

Who Should I Hire If I Am Facing Foreclosure?

The first step in fighting back against foreclosure is to find a reasonable foreclosure attorney. Do not make the mistake of thinking that since you owe the bank money, they will agree to your terms. They will not. Bank owners have a legal right to sue you for any amount that exceeds what you owe. A foreclosure lawyer will be able to protect your best interests so that you can fight back and get your mortgage payments reduced or stopped altogether. You do not want to let this responsibility fall to someone else, so make sure that you hire a foreclosure attorney to help you from the start.

Before you choose a foreclosure attorney, make sure that you know all of the fees that you will be required to pay for their services. You might want to hire a defense lawyer who will charge you no fees at all. This type of attorney will help you save your home from the foreclosure process and will help you keep it out of the public eye until everything is over. 

The fees involved with hiring a defense lawyer may seem excessive, but the peace of mind you will have after your home has been saved can make up for the fees involved. There are many great foreclosure attorneys out there that can help you, so if you are faced with the possibility of losing your home to foreclosure, you might want to consider hiring a defense attorney to represent your best interests. Researching of non-judicial foreclosure states list isn’t enough for you. Because every state has different publish sale and redemption periods. In Texas, you can lose your house in 27 days only.