Property II
Non-Judicial Foreclosure
Some states allow mortgage contracts to grant the mortgagee the power to sell the property in the event of a default.
These non-judicial foreclosures, also known as foreclosures by power of sale, allow the mortgagee to conduct a public sale of the property on his own, but still require notice to be given to the interested parties.
If it is deed of trust mortgage, the sale would be conducted by the trustee instead.