Some states may have a foreclosure process which is completed within 6 months of a missed payment. There are other states whereas the process takes longer than 6 months after a missed payment. Each state will be noted "judicial or non-judicial." In states that allow both processes, the non-judicial is often favored as it costs less and is quicker.
In this list, you will find that some states offer redemption and deficiency judgements. What does this mean? Redemption means that a person has a certain time period to pay off what was owed on the property to reclaim ownership, after the foreclosure sale. This means that you must pay off the mortgage (or taxes), all interest, all court costs, all title search fees, appraisal fees and attorney's fees. A deficiency judgement is an unsecured money judgement against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan in full.
ALABAMA : both judicial and non-judicial + time frame 5-6 mos. with a 12 month period of
redemption+ a deficiency judgement is allowed
ALASKA : both judicial and non-judicial + time frame 8-20 mos. with a 12 month period of
redemption + a deficiency judgement is allowed
ARIZONA : judicial is seldom used + time frame is 6 mos. + redemption available with
judicial only and deficiency judgement is seldom used
ARKANSAS : both processes are used + time frame 5-6 mos. with a 12 month period of
redemption and deficiency judgement is allowed
CALIFORNIA : judicial is rare + time frame 8-9 mos. with redemption of one year unless
lender bids full debt, then shortened to 3 mos. only on the judicial process.
deficiency judgement only on the judicial process
COLORADO : judicial is less common + time frame 6 mos. + homeowner must file to
redeem prior to foreclosure sale + deficiency judgement is allowed
CONNECTICUT : judicial only + time frame 8-9 mos. + redemption and deficiency judgements
are allowed
DELAWARE : judicial only + time frame 6-7 mos. + usually redemption and deficiency
judgements are not allowed
DISTRICT OF COLUMBIA : non-judicial only + time frame 5 mos. + redemption is not allowed
but a deficiency judgement is allowed
FLORIDA : judicial only + time frame 7 mos. + redemption and deficiency judgements are
allowed
GEORGIA : judicial is rare + time frame 5-6 mos. + no redemption + deficiency judgement
is allowed
HAWAII : both processes used + time frame-judicial is 5-8 mos., non-judicial is 5-6 mos
no redemption + deficiency judgement is allowed
IDAHO : non-judicial only + time frame 8 mos.+ redemption and deficiency judgements
are allowed
ILLINOIS : judicial only + time frame 12-15 mos. + redemption and deficiency judgements
are allowed
INDIANA : judicial only + time frame 8 mos. + no redemption + deficiency judgement is
allowed
IOWA : judicial only + time frame 8 mos. + redemption and deficiency judgements are
allowed
KANSAS : judicial only + time frame 7-9 mos. + redemption and deficiency judgements
are allowed
KENTUCKY : judicial only + fime frame 7-9 mos. + redemption and deficiency judgements
are allowed
LOUISIANA : judicial only + time frame 9-13 mos. + no redemption + deficiency judgement
is allowed
MAINE : judicial only + time frame 9-10 mos. + redemption and deficiency judgements
are allowed
MARYLAND : both processes-judicial most common + time frame 6 mos. + no redemption
+ deficiency judgement is allowed
MASSACHUSETTS : both processes but judicial seldom used + time frame 6 mos. +
redemption and deficiency judgements are allowed
MICHIGAN : both processes but non-judicial is most common + time frame 6-12 mos.
+ redemption and deficiency judgements are allowed
MINNESOTA : both but non-judicial is most common + time frame 10-15 mos. + redemption
and deficiency judgements are allowed
MISSISSIPPI : both processes are used but non-judicial is most common + time frame 5 mos
+ redemption and deficiency judgements are not usually allowed
MISSOURI : both but non-judicial is most common + time frame 5-6 mos. + redemption is
rare + no deficiency judgements
MONTANA : both but non-judicial is most common + time frame 150 days + redemption
and deficiency judgements are allowed
NEBRASKA : both processes used + time frame 7-8 mos. + redemption and deficiency
judgements are allowed
NEVADA : both but non-judicial is most common + time frame 7 mos. + only judicial is
is allowed redemption + deficiency judgement is allowed
NEW HAMPSHIRE : both but judicial is rare + time frame 4-5 mos. + no redemption +
deficiency judgement is allowed
NEW JERSEY : judicial only + time frame 6-7 mos. + redemption and deficiency judgements
are allowed
NEW MEXICO : judicial only + time frame 1 year + redemption and deficiency judgements
are allowed
NEW YORK : both but non-judicial is rare + time frame 18-24 mos. + no redemption +
deficiency judgements are allowed
NORTH CAROLINA : both processes used + time frame 4-5 mos + redemption and
deficiency judgements are allowed
NORTH DAKOTA : judicial only + time frame 7 mos. + redemption and deficiency judgements
are allowed
OHIO : judicial only + time frame 12- 16 mos. + redemption and deficiency
judgements are allowed
OKLAHOMA : both but judicial is not common + time frame 6-7 mos. + redemption and
deficiency judgements are allowed
OREGON : both but judicial is rare + time frame 7-9 mos. + redemption and deficiency
judgements are allowed
PENNSYLVANIA : judicial only + time frame 8 mos. + no redemption + deficiency judgements
are allowed + has incorporated a foreclosure prevention program which
requires an Act 91 notice to be sent to the homeowner before any foreclosure
action can begin- homeowner to meet with a counseling agency to file for
mortgage assistance- if mortgage default resulted from something that
happened beyond their control, the homeowner can be assisted financially
through HEMAP (Housing Emergency Assistance Program) to bring the
homeowner current
RHODE ISLAND : both but non-judicial is most common + time frame 60 days + redemption
and deficiency judgements are allowed
SOUTH CAROLINA : judicial only + time frame 8-9 mos. + no redemption + deficiency
judgements are allowed
SOUTH DAKOTA : both but non-judicial is most common + time frame 9-10 mos. judicial and
6 mos. non-judicial + redemption and deficiency judgements are allowed
TENNESSEE : both but judicial is seldom used + time frame 6 mos. + redemption and
deficiency judgements are allowed
TEXAS : both but non-judicial is most common + 90 days for non-judicial + no
redemption + deficiency judgement is allowed
UTAH : both but judicial is uncommon + time frame 8 mos. + no redemption +
deficiency judgement is allowed
VERMONT : both processes used + time frame 7-14 mos. + redemption and deficiency
judgements are allowed
VIRGINIA : both but judicial is rare + time frame 60-75 days for non-judicial + redemption and
deficiency judgements are allowed
WASHINGTON : both but judicial is rare + time frame 190 days for non-judicial + redemption
and deficiency judgements are allowed
WEST VIRGINIA : both but judicial is rare + time frame 60-75 days for non-judicial +
redemption and deficiency judgements are not allowed
WISCONSIN : judicial only + time frame 11-17 mos. +redemption and deficiency judgements
are allowed
WYOMING : both but non-judicial is most common + time frame 90 days for non-judicial
+ redemption and deficiency judgements are allowed
