Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 36

The end result of foreclosure is that the homeowners lose ownership and ultimately lose possession of their property. That’s true no matter where you’re buying foreclosure properties. But different states and counties follow different foreclosure procedures. The two main procedures are

 Foreclosure by trustee sale, also referred to as foreclosure by advertisement

 Foreclosure by judicial sale, also referred to as judicial foreclosure

The following sections describe these two types of foreclosure. To find out which process your state follows, check the appendix at the back of this book. Counties may also have their own local rules for how the sale is carried out, so visit your county courthouse (the Register of Deeds office), and ask for an explanation of the rules and regulations. I also recommend that you sit in on a few auctions before bidding on anything.