Both federal and state home foreclosure law exists in the United States, governing the appropriate process by which a lender can take possession of and sell a defaulted home. On the surface, these laws may seem be quite one-sided, but in actuality, they operate to protect both parties involved. When entering into a mortgage, the risks engaged by each party are quite evident - the lender agrees to offer a large sum in financing, and the homeowner agrees to use his home as collateral for the given financing. Home foreclosure laws lessen these risks, operating as protection for both the lender and homeowner. Under the law, lenders are able to take ownership and subsequently sell the home a certain time after default, a right that ensures protection against nonpaying borrowers. As a homeowner, on the other hand, the law allows that, even in the event of default, the lender must follow time-sensitive procedures and inform the homeowner. Even more, the homeowner has the right to take the foreclosure to trial, alleging that the lender foreclosed wrongfully.