What are the steps in a foreclosure process?

The foreclosure process in Washington may vary slightly depending on the circumstances, but there are generally six steps that occur. First, a lender typically files a Notice of Default, which is a document legally notifying a homeowner that they are in default on their loan. The homeowner then has a limited amount of time to pay the arrears or catch up on missed payments. Second, if the homeowner is unable to catch up with their payments, the lender may start a lawsuit to begin the foreclosure process. The lender will then serve a Summons and Complaint on the homeowner, who can then decide to either pay the arrears or file a response to the lawsuit. Third, if the homeowner does not file a response, the lender can ask the court for a Default Judgment. This allows the lender to proceed with a foreclosure sale. Fourth, the lender will then file a Notice of Sale with the court, which will give the public a certain amount of time to buy the property before the sale takes place. Fifth, the lender can then start the foreclosure sale on the property. This sale is typically held in the county where the property is located, and the sale can be conducted either publicly or privately. Finally, after the winning bidder pays the outstanding debt and other costs associated with the sale, the deed to the property will be transferred to the new owner. At this point, the foreclosure process has been completed.

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What are the steps in a foreclosure process?

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