Skip to content
Free Debt Evaluation
National Bankruptcy Forum
  • About
  • Bankruptcy Basics
    • Automatic Stay
    • Bankruptcy and Your Career
    • Bankruptcy Lawyers
    • State Exemption Laws
  • Chapter 7
  • Chapter 13
    • Foreclosure
  • Personal Finance
    • Consumer Debt
    • Consumer Laws by State
    • Credit
    • Real Estate and Mortgage Issues
Home

Foreclosure

When a borrower cannot afford to keep up with their monthly mortgage payments, the bank will foreclose on the property in order to recoup the money they lent to the property owner. This involves selling real estate to satisfy outstanding mortgage debt. Although laws vary greatly by state, generally speaking, there are two basic types of foreclosure practiced nationwide: power of sale and judicial. Power of sale foreclosure is a generally faster process and usually involves a deed of trust, held by a trustee who has authority to sell the property in the event that the borrower fails to make payments. Many states, however, require lenders to utilize judicial foreclosure in order to take back property, which requires a judge and can take a year or longer. Bankruptcy can stop foreclosure. Learn how in some of the articles below.

Surrendering House Chapter 7 Bankruptcy

Most Popular

What is the Difference Between Surrendering a Home and Foreclosure?

Last updated on October 13, 2021

Short Sale Bankruptcy

Foreclosure

I’ve Decided to File for Bankruptcy. Do I Need to Go through with My Short Sale?

Last updated on May 18, 2023

default thumbnail nbf

Chapter 7 Bankruptcy

How is a Short Sale Different from a Foreclosure?

Last updated on October 22, 2021

Arizona Anti-Deficiency Statute

Consumer Laws by State

Am I Protected by the Arizona Anti-Deficiency Statute?

Last updated on October 6, 2021

Deficiency Judgment After Foreclosure Bankruptcy

Foreclosure

Deficiency Judgment: After Foreclosure, Do I Owe Money?

Last updated on October 13, 2021

Foreclosure

How Long Does Foreclosure Take?

Last updated on August 10, 2023

Bankruptcy and Foreclosure

Foreclosure

Bankruptcy and Foreclosure: The Consumer’s Overview

Last updated on October 6, 2021

Free Bankruptcy Evaluation

Help us match you with a local attorney.

"*" indicates required fields







National Bankruptcy Forum logo

600 Congress Avenue Austin, TX 78701

(877) 280-4299 • info@natlbankruptcy.com

  • About
  • Bankruptcy Basics
  • Chapter 7
  • Chapter 13
  • Personal Finance
  • Contact

©2023 National Bankruptcy Forum. All rights reserved.

  • Terms & Conditions
  • Attorney Sign Up