What is foreclosure by judicial sale?

Foreclosure by judicial sale is a legal process used to reclaim a residential real estate property in the state of New Hampshire. This process is used when a homeowner has defaulted on their mortgage payments or other financial obligations secured by the property. Once the foreclosure process has begun, a court of law will enter a judgement in favor of the creditor, or lender, and a sheriff will begin the foreclosure process. In the case of foreclosure by judicial sale, the property is then put up for auction to be sold to the highest bidder. The ownership of the property then passes from the homeowner to the highest bidder. The proceeds of the sale are then used to pay off the mortgage debt, any court fees, and other associated costs. Any remaining funds are then distributed to the former homeowner. The judical sale process is required when a homeowner has defaulted on their mortgage obligations, and it is important to remember that it is a legal process.

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What is foreclosure by judicial sale?

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