Updated about 13 years ago on . Most recent reply
Judicial Foreclosure Question
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?