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Foreclosure Listings Updated On: 12/03/08
Understand the Foreclosure Laws On Each State
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STATE FORECLOSURE PROCEDURES VARY!

Each state has its own legislation regarding the foreclosure process of a property. It is important to know which type of mortgage instrument is used in your state. Currently, there exists two ways that a property is identified when a buyer purchases a home without paying the entire purchase price in cash. One is known as a mortgage and the other is known as a trust of deed. If a property enters into foreclosure and the property belongs to a state that uses mortgages, this property must be sold under the rules and regulations of a judicial foreclosure. Basically, the property cannot be foreclosed upon unless local legal requirements are adhered to and is supervised by court action. If the property belongs to a state that utilizes a trust of deed, then the property may be foreclosed upon using an auction or any type of sale deemed appropriate by a non-judicial entity, usually the trustee of the deed.

During a foreclosure in a state that is governed by rules and regulations of mortgages, court supervision must be present during the foreclosure proceeding. Initially, the lender, or mortgage financier must prove to the judicial body that the borrower is in default – or not making payments on the property in question. The lender must also provide documentation that the borrower was fully aware his property payments were in default. At this stage of the foreclosure process, an attorney usually represents the lender. The attorney will also be in contact with the homebuyer in an attempt to collect the monies owed to his client and to facilitate with any resolutions that may be available. Once all avenues of collection are exhausted, the attorney will file a lis pendens with the court with presiding jurisdiction. Lis Pendens is defined as "action pending". Lis Pendens is considered to be a public notice that the property in question is in a stage of foreclosure and that property may soon be available for new owners to purchase for an amount to be determined either by auction or sale.

State Judicial Non-Judicial State Judicial Non-Judicial
Alabama Checked Checked Montana Checked Unchecked
Alaska Unchecked Checked Nebraska Checked Unchecked
Arizona Checked Checked Nevada Unchecked Checked
Arkansas Checked Unchecked New Hampshire Unchecked Checked
California Unchecked Checked New Jersey Checked Unchecked
Colorado Unchecked Checked New Mexico Checked Unchecked
Connecticut Checked Unchecked New York Checked Unchecked
Delaware Checked Unchecked North Carolina Unchecked Checked
District of Columbia Unchecked Checked North Dakota Checked Unchecked
Florida Checked Unchecked Ohio Checked Unchecked
Georgia Unchecked Checked Oklahoma Checked Unchecked
Hawaii Unchecked Checked Oregon Unchecked Checked
Idaho Unchecked Checked Pennsylvania Checked Unchecked
Illinois Checked Unchecked Rhode Island Unchecked Checked
Indiana Checked Unchecked South Carolina Checked Unchecked
Iowa Checked Unchecked South Dakota Checked Checked
Kansas Checked Unchecked Tennessee Unchecked Checked
Kentucky Checked Unchecked Texas Unchecked Checked
Lousiana Checked Unchecked Utah Checked Unchecked
Maine Unchecked Checked Vermont Checked Unchecked
Maryland Checked Checked Virginia Unchecked Checked
Massachusetts Unchecked Checked Washington Checked Checked
Michigan Checked Checked West Virginia Unchecked Checked
Minnesota Unchecked Checked Wisconsin Checked Unchecked
Mississippi Unchecked Checked Wyoming Unchecked Checked
Missouri Unchecked Checked      
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