Foreclosure Methods

While the foreclosure process varies from state to state, its fundamental purpose is the same—to extinguish inferior liens and sell the mortgaged premises applying the sale proceeds to the mortgage debt. Foreclosures can be judicial or nonjudicial, depending on the jurisdiction. Check out this content for a visual checklist overview of nonjudicial and judicial foreclosures of California commercial real property. Refer to the Related Content below for additional foreclosure resources.

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Related Content

• Foreclosure of Real Property
  Read this practice note discussing the foreclosure of commercial and residential real property, including election of remedies, types of foreclosures, and foreclosure alternatives.

• Judicial Foreclosure State Law Survey
  Refer to this survey of state laws and regulations on judicial foreclosures, including minimum default period, notification requirements, deficiency judgments, and borrower's right to cure.

• Nonjudicial Foreclosure State Law Survey
  Delve into this survey of state laws and regulations on nonjudicial foreclosure methods, including notice requirements and timelines. 

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