When lenders foreclose on a home, the process is either judicial or nonjudicial, depending on state law.The following map shows which process is applicable in your state. For more information on how each process works, read the Bankrate story "How foreclosure works in your state."Foreclosure laws by stateSource: "Recourse and Residential Mortgage Default: Theory and Evidence from U.S. States," Federal Reserve Bank of Richmond, Va. advertisementRelated Links:National mortgage rates for Aug. 30, 2012Current Mortgage Interest RatesCelebrity house for sale: Mark WahlbergRelated Articles:Rate Trend IndexMortgages plunge again4 unusual homes for sale
When lenders foreclose on a home, the process is either judicial or nonjudicial, depending on state law.
The following map shows which process is applicable in your state. For more information on how each process works, read the Bankrate story "How foreclosure works in your state."
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.
Mortgage servicers are spending more time on borrowers who are behind on payments than those who are current, according to a new J.D. Power study.
... Read more