Every state has different foreclosure laws. There are different types of foreclosures and different terms for describing them. The number of notices legally required to be given homeowners may also vary. Nevertheless, the object of all foreclosure laws point in only one direction- toward the legal transfer of the ownership of property.
Before a foreclosure is completed, a legal transfer of ownership has to take place if the property is deeded in any way, and once the title issue of who now owns the property has been resolved, the eviction process normally follows the foreclosure process.
Judicial and Non-judicial Foreclosures
There are two types of foreclosures that may take place- judicial and non-judicial foreclosures. A judicial process foreclosure entertains a court proceeding in which a judge considers the merits of a lawsuit the lender brings against the borrower for failing to live up to the terms of a mortgage agreement. The lender starts the judicial foreclosure process by filing a complaint in court.
A nonjudicial foreclosure process includes a series of notices the lender records, mails, publishes and posts, as directed by state law. This administrative process often begins with the lender recording a notice of default on the property title and mailing a copy to the borrower. Unlike the judicial foreclosure process, the non-judicial foreclosure provides no jurisdiction for the borrower to post any challenge. The homeowner, in this case, is left to his own lawsuit initiative.
The foreclosure process is normally designed to legally take back a secured piece of titled property by forcing the sale of said property and transfer of the title into new ownership.
Once new ownership has been established by the foreclosure process, the eviction process follows if the former owners have not yet left the premises. The eviction process is usually the one constant in the overall process as for as procedures go.
The eviction process usually takes between 2 and 4 weeks. The new owner of the property, whether it be the lending bank or the new owner named in the legal transfer of title to the property, can file a motion with a court of jurisdiction asking that the sheriff be ordered to evict the former homeowners and their belongings. All that is required of the petitioning plaintiffs is to prove they now own the property. They can easily do this by showing a foreclosure court judgment or a signed statement from the sheriff’s auction that the sheriff sale was valid.
The court will then order the sheriff to evict the former homeowners. The sheriff will usually give notice of pending eviction and will show up at the house a few days later to make sure the former homeowners have left the premises.
Those who have filed for bankruptcy protection often have a lot of questions about the foreclosure and eviction process. Most questions are concerned with time lines and when the former owners should leave their property. The answer to their questions will be determined by what their state laws are concerning the foreclosure and eviction processes. States that have judicial foreclosures seem to take a lot longer for the foreclosure process.
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