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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Judicial Foreclosure


The Judicial Foreclosure process is used when the mortgage or deed of trust does not include a Power of Sale clause.  In a judicial foreclosure, the lender files a lawsuit and obtains a court order allowing them to foreclose on the property.  The court must reside in the same county as the property that is being foreclosed upon.  Once the foreclosure is granted an auction will be announced and the home will be sold to the highest bidder.