Judicial State Preferences

[Andy Mirza]

Most NPN investors in this forum category state that they prefer to buy notes in non-judicial foreclosure states. Are there any out there that actually prefer judicial states? If so, which states and why?

My partner and I stick mostly to non-judicial states but have ventured into a a couple of judicial states and have been doing well so far. The timelines for some of our loans in non-judicial states can get extended way longer than a judicial foreclosure in another state when the borrower fights. When buying, we try to pick the NPNs that are in late stage foreclosure.

In a recent thread, most investors recommend staying away from NY and NJ. Just wondering if there are judicial states that are the opposite and easier to deal with....

[Chris Seveney]

Here is a summary of judicial states I have invested and my feedback

Pennsylvania - expensive to FC, long lead time from sale date to getting deed. Not a fan of PA

Maryland - FC process have not had any issues. Similar to PA once sale goes through expect months before the sale is completed / deed transferred

Florida - have two right now in FC have not been completed. Process to date has not been difficult

Thankfully have not had to FC in Ohio yet.