Judicial and Non-Judicial foreclosure

[Joe Pifer]

Hello everyone. What is the difference between a judicial and non-judicial foreclosure?

And how does it affect a buyer?

[Joe Homs]

@Joe Pifer it does not affect the buyer only the seller.  The short answer is Judicial (Court Action) the bank can come after the seller for a deficiency in the loan.  In a non-judicial the bank just takes the house back as the collateral payment for the loan.

Good Investing...