Strict foreclosure, by definition, is a form of judicial foreclosure where the lender asks the court for title to the home, rather than having a court-ordered sale. The main difference is that at the end of the process the lender ends up with title to the property and has no obligation to sell it, whereas in a conventional judicial foreclosure the court usually sells off the property and then distributes the proceeds to the lender and any other lien holders.


Strict foreclosure is actually the original type of foreclosure, but nowadays it is much less widely used. It is not available in all jurisdictions.

What Should I Do If I Am Facing Foreclosure?

Regardless of what type of foreclosure you are facing, the first thing you should do is contact the lender. Any type of foreclosure is time consuming and expensive for them — it is a last resort when they believe they will not recoup the amount of the mortgage any other way. Therefore, lenders are often willing to work out alternate payment schedules if you have been prevented from making payments by job loss or an emergency.

In certain situations it may not be possible to work out an alternative that will bring your mortgage current. If this is the case, your only option that will allow you to keep your home is to find alternate financing. If possible, try and find a traditional lender who can take over the mortgage, as this will get you the best rates.

If traditional lenders are not an option, then consider calling us. We have saved many homeowners from seemingly impossible situations by connecting them with sources of alternative financing and then coaching them back to good “credit health.” This allows you to stay in your home and then get a traditional mortgage in the space of a few years. Even better, our process means that you will exit with solid credit and you will not have to worry about being able to finance purchases in the future.

What does it take to be eligible for our program? While there are some details, as a rule the main criteria are that you must have at least 10% equity in your home as well as a steady source of income. Your credit score does not matter! After all, we specialize in helping bring you back to good credit.

All you need to do to get started is to pick up the phone and call one of our mortgage professionals today. There is absolutely no obligation when you call and we will be happy to explain what we can do to help you out of your current situation.