Non-judicial Foreclosure

FORECLOSURE GLOSSARY
Non-judicial Foreclosure
May also be referred to as "statutory" or "power of sale" foreclosure. This type of foreclosure does not go through the court system and is allowed if a mortgage or deed of trust contains a power of sale clause. It is usually faster and cheaper than judicial foreclosure. In non-judicial foreclosures, the lender and other lien holders claim the foreclosure sale proceeds in the same manner as they do in judicial foreclosures.
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