Which type of foreclosure is usually quicker and does not go through court?

The type of foreclosure that is usually quicker and does not require court involvement is non-judicial foreclosure. This process typically follows the provisions set forth in the mortgage agreement between the lender and borrower, allowing the lender to reclaim the property without initiating a court case. Non-judicial foreclosure is popular in many states, including Georgia, because it streamlines the foreclosure process, often resulting in less time and lower costs compared to judicial foreclosures.

Judicial foreclosure, in contrast, requires the lender to file a lawsuit and obtain a court order before proceeding with the foreclosure, which can significantly prolong the timeline. Statutory foreclosure and strict foreclosure may also involve certain legal processes or conditions that do not align with the expedited nature of non-judicial foreclosures. Thus, non-judicial foreclosure is clearly distinguished by its speed and lack of court procedures.