When Speaking About Foreclosures & State Laws, What’s Meant by Judicial & Non-Judicial States1.9
In the context of foreclosures, the term “non-judicial foreclosure” refers to a process by which a lender can sell a property to recover the balance of a loan without court supervision. In contrast, “judicial foreclosure” involves court proceedings to initiate and complete the foreclosure.
As of January 2022, the following states are primarily non-judicial foreclosure states. Keep in mind that foreclosure laws can change, so it’s essential to verify the current status:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- District of Columbia
- Georgia
- Idaho
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Mexico
- North Carolina
- Oklahoma
- Oregon
- Rhode Island
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Washington
- West Virginia
- Wyoming
It’s important to consult with a legal professional or check the latest legal resources for the most up-to-date information on foreclosure laws in specific states. The above-listed non-judicial states are useful when using Groundfloor or other real estate p2p lending platforms. Groundfloor.com