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Updated almost 12 years ago on . Most recent reply

Account Closed
  • Investor
  • Central Valley, CA
3,729
Votes |
6,037
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Judicial Foreclosure Question

Account Closed
  • Investor
  • Central Valley, CA
Posted

I'm in a nonjudicial state so forgive me if my questions don't make sense.

Is this correct: In judicial states, the lender files the complaint and lis pendens. And then, assuming all goes well for the lender, they get a judgment for the amount owed, plus late fees and interest, plus attorneys fees. Then the property is offered at public sale via a sheriff's sale.

What's the time frame between judgment and public sale? Can the money judgement be paid off in order to redeem the property before sale? Can/does the lender ever sell the judgment?

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