Tennessee Home Foreclosure Information
In Tennessee, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or nonjudicial foreclosure process.
What’s The Difference?
Both methods of foreclosure involve looking at the mechanism for initiating the proceedings. In a judicial foreclosure, the lender has to file a complaint, which has to be reviewed and if the judge finds the debt in default, the borrower is typically given time to begin repaying.
In a non-judicial foreclosure, there is no review process. These type of foreclosures can only happen when the mortgage or deed of trust has what’s called a “power of sale” clause which gives the lender the option to sell the property to pay off the loan balance.
Whatever Type Of Foreclosure You Face, We Will Be There.
At Rothschild & Ausbrooks, PLLC, our attorneys provide legal representation to clients throughout the bankruptcy process. If you are worried about losing your property, we can help.
Time is often of the essence. Please contact one of our Nashville lawyers today to learn more or to arrange a consultation.
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