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Judicial Foreclosure

Judicial Foreclosure

If the mortgagor (the borrower) defaults (fails to make the monthly mortgage payments), the mortgagee may reach the land to satisfy the debt. In some states this is accomplished with a a judicial foreclosure. This is a lawsuit in which the mortgagor is evicted and the property is sold under the supervision of a government official, such as a sheriff. A judicial foreclosure can start 120 to 180 days following a default.

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