Foreclosure by State

Do Foreclosure Laws Vary By State?

The foreclosure process will slightly vary from state to state, and will primarily depend on whether the state institutes mortgages or deeds of trusts for the purchase of real properties. In most states, mortgages will conduct a judicial foreclosure; in turn, states that use deeds of trust, will conduct non-judicial foreclosures (the court system is not involved in the foreclosure process). The primary difference between the two forms is that the judicial procedure will necessitate court action on a foreclosed property.

Judicial Foreclosures:

To foreclose on a property in accordance with a judicial procedure, a lender (bank or institution that offers the mortgage) must prove that the homeowner is in default (egregiously late with payments). Once the lender exhausts its attempts to collect the missed payments or outstanding debt, the next step is to contact a legal professional to resolve the debt. If the homeowner is unable to satisfy the debts, the attorney will file a lawsuit with the jurisdiction’s court system. The lawsuit will give notice to the public that a pending action has been filed against the homeowner. The purpose of this action is to provide empirical evidence that a default is pending. Furthermore, the action is needed to attain the court’s approval to initiate a foreclosure.

The presence of a judicial foreclosure is the basis for evaluating a foreclosure by state. If your state institutes this policy and you subsequently foreclose on your home, your lender will engage in a lawsuit to formally terminate your mortgage. The inclusion of a court system in a foreclosure formally institutes the foreclosure process--once a lawsuit commences and it is proven that you violated your mortgage contract--your property will be auctioned-off or usurped by your lender.

Non-Judicial Foreclosure:

A non-judicial foreclosure is based on a deed of trust that is found in the power of sales clause. The clause permits a trustee to initiate a foreclosure without the inclusion of a court. The trustee in a non-judicial foreclosure is requires to issue a notice of default and notify the borrower/homeowner--in accordance to state law or the individual’s mortgage contract--concerning default status. If the borrower/homeowner ignores these notifications, the trustee will initiate the foreclosure process.

Foreclosure by State:

The presence of the above foreclosure procedures may be practiced simultaneously in a particular state—individual counties will implement the process of foreclosure. In addition to the type of process, foreclosure by state will vary because of the following factors:

· Foreclosure by state will vary in regards to the process period, the sale publication (foreclosure made public in print), the redemption period and the agent or body that carries out the sale of the foreclosed home.

The below table will represent the current foreclosure rules by state, including which states use judicial (deeds) non-judicial (trusts) or both. The table will also list all estimated foreclosure periods for each state:

Alabama: Process period b/t 49-74 days; sale publication will be rendered 21 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

Alaska: Process period takes 105 days; sale will be publicized 65 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

Arizona: Process period takes over 90 days; sale will be publicized 41 days following foreclosure; redemption period between 30 and 180 days; and the state practices a non-judicial foreclosure process.

Arkansas: Process period takes 70 days; sale will be publicized 30 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

California: Process period takes 117 days; sale will be publicized 21 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

Colorado: Process period takes 145 days; sale will be publicized 60 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Connecticut: Process period takes 62 days; redemption period is rendered by the court system; and the state practices a judicial foreclosure process.

Delaware: Process period takes 170 to 210 days; sale will be publicized 60-90 days following foreclosure; there is no redemption period; and the jurisdiction’s sheriff will oversee the foreclosure

Washington, D.C.: Process period takes 47 days; sale will be publicized 18 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Florida: Process period takes 135 days; there is no redemption period; and the state practices a non-judicial foreclosure process.

Georgia: Process period takes 37 days; sale will be publicized 32 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Hawaii: Process period takes 220 days; sale will be publicized 60 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Idaho: Process period takes 150 days; sale will be publicized 45 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

Illinois: Process period takes 300 days; redemption period of 90 days; and the state practices a judicial foreclosure process.

Indiana: Process period takes 261 days; sale will be publicized 120 days following foreclosure; there is no redemption period; and the sheriff initiates the sale of the property.

Iowa: Process period takes 160 days; sale will be publicized 30 days following foreclosure; redemption period of 20 days; and the sheriff initiates the sale of the property.

Kansas: Process period takes 130 days; sale will be publicized 21 days following foreclosure; redemption period of 365 days; and the sheriff initiates the sale of the property.

Kentucky: Process period takes 147 days; redemption period of 365 days; and the state practices a judicial foreclosure process.

Louisiana: Process period takes 147 days; the sheriff initiates the sale of the property.

Maine: Process period takes 240 days; sale will be publicized 30 days following foreclosure; redemption period of 90 days; and the state practices a judicial foreclosure process.

Maryland: Process period takes 46 days; sale will be publicized 30 days following foreclosure; the court will decide the redemption period; and the state practices a judicial foreclosure process.

Massachusetts: Process period takes 75 days; sale will be publicized 41 days following foreclosure; there is no redemption period; and the state practices a judicial foreclosure process.

Michigan: Process period takes 60 days; sale will be publicized 30 days following foreclosure; redemption period between 30 and 365 days; and the sheriff initiates the sale of the property.

Minnesota: Process period takes between 90 and 100 days; sale will be publicized 7 days following foreclosure; redemption period of 180 days; and the sheriff initiates the sale of the property.

Mississippi: Process period takes 90 days; sale publication will be rendered 30 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Missouri: Process period takes 60 days; sale publication will be rendered 10 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

Montana: Process period takes 150 days; sale publication will be rendered 10 days following foreclosure; redemption period of 365 days; and the state practices a non-judicial foreclosure process.

Nebraska: Process period of 142 days and foreclosure process is initiated by the sheriff

Nevada: Process period of 116 days days; sale publication will be rendered 90 days following; and foreclosure process is initiated by the sheriff

New Jersey: Process period takes 270 days; redemption period of 270 days; and the foreclosure is instituted by the sheriff

New Mexico: Process period takes 180 days; there is no redemption period; and the state practices a judicial foreclosure process.

New York: Process period takes 445 days; there is no redemption period; and the state practices a judicial foreclosure process.

North Carolina: Process period takes 110 days sale will be publicized 25 days after foreclosure; and the foreclosure is instituted by the sheriff

North Dakota: Process period takes 150 days; redemption period between 180-365 days; and the foreclosure is instituted by the sheriff

Ohio: Process period takes 217 days; no redemption period; and the foreclosure is instituted by the sheriff

Oklahoma: Process period takes 186 days; no redemption period; and the foreclosure is instituted by the sheriff

Oregon: Process period takes 150 days; sale will be publicized 30 days following foreclosure; redemption period of 180 days; and the state practices a non-judicial foreclosure process.

Pennsylvania: Process period takes 270 days; no redemption period; and the foreclosure is instituted by the sheriff

Rhode Island: Process period takes 62 days; sale will be publicized 21 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

South Carolina: Process period takes 150 days; there is no redemption period; and the state practices a judicial foreclosure process.

South Dakota: Process period takes 150 days; sale will be publicized 23 days following foreclosure; redemption period between 30-365 days; and the sheriff initiates the sale of the property.

Tennessee: Process period between 40 and 45 days; sale will be publicized 25 days following foreclosure; redemption period of 730 days; and the state practices a non-judicial foreclosure process.

Texas: Process period of 27 days; no redemption period; and the state practices a non-judicial foreclosure process.

Utah: Process period takes 142 days; redemption period is rendered by the court system; and the state practices a non-judicial foreclosure process.

Vermont: Process period takes 95 days; redemption period between 180-365; and the state practices a judicial foreclosure process.

Virginia: Process period takes 45 days; sale will be publicized 14-28 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Washington: Process period takes 135 days; sale will be publicized 90 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

West Virginia: Process period is between 60-90 days; sale will be publicized 30-60 days following foreclosure; there is no redemption period; and the state practices a non-judicial foreclosure process.

Wisconsin: Process period takes 290 days; redemption period of 365 days; and the sheriff will initiate the sale of the property.

Wyoming: Process period takes 60 days; sale will be publicized 25 days following foreclosure; redemption period between 90 and 365 days; and the sheriff initiates the sale of the property.

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