Home >

Strict Foreclosure

Strict foreclosure is a type of foreclosure where, rather than a sale taking place, the foreclosure is completed on a set date without any type of sale. Generally, the United States law sets out two basic forms of foreclosure - by judicial power or by power of sale. However, state laws allow for other less common types of foreclosure, such as strict foreclosure. In a strict foreclosure, the foreclosure still takes place, but the house is not necessarily sold. In states where it is allowed, a strict foreclosure can be requested from the court after the lender has been notified of missed payments. If granted, the court issues a strict foreclosure, which specifies that the default must be paid within a certain time period. When a payment is not made (in full) according to the given time, the homeowners equitable redemption rights are taken away, at which point the title is granted to the lender.

Fast Facts

  • in Maine, strict foreclosure is the major form of foreclosure

Talk to a Lawyer

Enter a zip code to speak to a Lawyer that serves your area.

Find a Lawyer

Select the type of Lawyer you need

strict foreclosure - Lawyers, Articles and Q&A

Search Results for "strict foreclosure"

Articles

Results 1-5 of 64 for "strict foreclosure"

Q&A

Results 1-3 of 3 for "strict foreclosure"

From Around the Web

Results 1-4 of 4 for "strict foreclosure"


PAID ATTORNEY ADVERTISEMENT: This Web site is a used as an advertising platform for attorneys. It is not a lawyer referral service or prepaid legal services plan. ExpertHub, Inc. is not a law firm. The sole basis for the inclusion of the participating lawyers or law firms is the payment of a fee for practice areas and geographical advertising rights. ExpertHub, Inc. does not endorse or recommend any lawyer or law firm who participates in the network. ExpertHub Inc’s websites operate 24 hours a day, and a visitor can submit their case at any time to find a lawyer, and will never be charged to use the service. The information contained herein is not legal advice. All case evaluations are performed by an attorney or law firm. Any information provided to ExpertHub, Inc. may not be protected by the attorney-client privilege. ExpertHub, Inc. is located at 7031 Koll Center Parkway, Suite 260, Pleasanton, California 94566.

Terms and Conditions | Privacy Policy

LA-WS5:0.7.14.100803.9563