Judicial foreclosure exists in nearly every state in the United States. Generally, a lender initiates a foreclosure action when the property owner/borrower has failed to make mortgage payments. In a judicial foreclosure, the lender must go through the court system, filing a complaint and serving the borrower. In most states, the court will then either find for the borrower or for the lender. If the court finds that the borrower has indeed defaulted on his or her loan a judgement will be entered for the lender. The lender can then hold a sheriff’s sale of the property in order to … Read More
Sometimes a court isn’t the best venue to solve a legal problem. In fact, many cases are resolved outside of court through various other means. Once way of resolving a legal issue is through Alternative Dispute Resolution (ADR) methods. ADR has often been viewed as a preferable method to trial. When a case uses ADR, this frees up the docket from the ever burdened courts. Also, ADR can often be less costly than trial. There are a few methods that fall under the ADR system, however the three most common forms are negotiation, mediation, and arbitration.
During negotiation the parties … Read More