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What is Judicial Foreclosure?
Used by approximately one-third of states, judicial foreclosure involves issuing a lawsuit against the homeowner that defaults on a mortgage.

If the homeowner does not respond to the lawsuit, the mortgage lender wins the case and the home is put up for sale in an auction.

A court official presides over this auction and sells the seized house to the highest bidder, which includes the mortgage lender that will also put in a bid. This bid's amount can go up to the amount owed on the home loan.

If no bidder beats the mortgage lender's bid, the lender gets the title to the home. If the bidding goes higher than this bid amount, then the winning bidder is issued the deed to the house.

 
 
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