Sentences with phrase «uses judicial foreclosures»
The state uses judicial foreclosures rather than the speedier option, non-judicial foreclosures.
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As for Oregon's foreclosure laws, the state uses both judicial (judge and lawsuit involved) and non-judicial (no court involvement) processes.
A judicial foreclosure is processed through the courts; some states require lenders to use this process.
HUD responded, «We use the term «foreclosure» when title is transferred through a foreclosure proceeding — either judicial or non-judicial.
Generally speaking, states that use mortgages have a judicial foreclosure process, and the states that use deeds have a non-judicial process.
Technically, a sherriff's (trustee's) sale is not a «foreclosure» but the term has been used for both a trustee's sale as well as a judicial foreclosure.
Generally speaking, states that use mortgages have a judicial foreclosure process, and the states that use deeds have a non-judicial process.