The courts have inherent power to restrain the sale of mortgaged premises in foreclosure proceedings, but are reluctant to exercise such power except where it is shown that particular circumstances, extrinsic to the instrument, would render its enforcement in this manner inequitable and work irreparable injury, and that complainant has no adequate remedy at law. Furthermore, a party must show a probable right of recovery in order to obtain a temporary injunction of a foreclosure action.
District of Columbia Petition or Complaint to Enjoin Nonjudicial Foreclosure Sale and for Declaratory Relief
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US-01680BG
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FAQ
To accomplish this, a power of sale clause is added to the mortgage, or deed of trust, which gives a third-party trustee the right to sell the property in the event the borrower does not make their payments. Given this clause, non-judicial foreclosures are sometimes referred to as foreclosure by power of sale.
Judicial foreclosure - involves sale of the mortgaged property under the supervision of a court; initiated by a law suit; available in every state. non-judicial foreclosure - involves sale of the mortgage property without court supervision; available in many, but not all, states.
Under a judicial foreclosure proceeding, the lender files suit with the court to initiate foreclosure?typically after the borrower misses their third consecutive mortgage payment (also known as going 90 days past due on their loan).
Judicial foreclosure is the process where the lender files a complaint against the borrower in the DC Superior Court to obtain a judgment of foreclosure. As a result, the borrower will receive the Initial Order, a Summons, and a Complaint.
The lender will bring a lawsuit in court, and a judge will review the evidence submitted by both sides. They may hold a hearing to decide whether the homeowner is in default on the loan. The homeowner can try to reach a settlement with the lender before the hearing to prevent the foreclosure.
Judicial Foreclosure. If a payment is not made after a certain time period, the mortgage property is then sold through an auction to the highest bidder, carried out by a local court or sheriff's office.