Foreclosure process may be fast or may take a long time, depending on State regulations. There are options that have been adopted by home owners in recent times to avoid foreclosure or at least delay the process to allow for financial settling. They include filing for bankruptcy, refinancing, financing through other means, or making amicable arrangements with the mortgagee.

Process of judicial foreclosure
The process is said to be started when the mortgagee moves to a state court to sue a mortgagee for purportedly breaching the initial agreement. Once the final verdict has been passed in favor of the claimant, the way is officially open for the property to be sold by auction through a court appointed official. The official in charge warrants a deed to the tallest bidder, who may even include a bank or another financial institution which may opt to buy the debt.