foreclosure types

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Courtney Atkinson

Century 21 Foothills - Atkinson & Associates

204 - 515 7 St S

Lethbridge, AB, T1J 2G8

Cell: 403.795.7777

info@courtneyatkinson.ca

foreclosure types

What types of foreclosure are there in theLethbridge area?

Judicial foreclosure action is a proceeding in which a mortgagee, a trustee or another lienholder on Lethbridge property requests a court-supervised sale of the property to cover the unpaid balance of a delinquent debt.

Nonjudicial foreclosure is the process of selling real property under a power of sale in a mortgage or deed of trust that is in default. In such a foreclosure, however, the lender is unable to obtain a deficiency judgment, which makes some title insurance companies reluctant to issue a policy.

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