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."
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A bunch of agencies are trying to expand the number of would-be homeowners who can qualify for mortgages. But I'm skeptical that these efforts will help many people.
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