What is the difference between judicial and non-judicial foreclosure?

In Washington, foreclosure is the legal process by which a lender (either a bank or other financial institution) can take over a property if a homeowner is not able to make payments on their mortgage. Foreclosure can happen through either a judicial or non-judicial process. Judicial foreclosure is a process where the court is involved. In Washington State, a mortgage lender must sue the homeowner and win a judgment before they can foreclose on the property. The lender must also file a writ of sale and give a three-month notice of foreclosure to the homeowner. The court will then allow the lender to sell the home through a foreclosure sale. Non-judicial foreclosure, on the other hand, does not involve the court and takes less time than judicial foreclosure. In non-judicial foreclosure, the lender can sell the property as soon as the homeowner has missed two or more payments. The lender must also provide a written notice of default and advertise the foreclosure sale. The main difference between the two is that judicial foreclosure requires court involvement, while non-judicial foreclosure does not. Judicial foreclosure is typically a slower process and requires more steps. Non-judicial foreclosure is the faster process, and can be completed in a shorter amount of time.

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What is the difference between judicial and non-judicial foreclosure?

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