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A judicial foreclosure requires a lawsuit on the part of the lender. The attorney contacts the borrower to try to resolve the default. If the borrower is unable to pay off the default, the attorney files a lis pendens (action pending) with the court. The lis pendens gives notice to the public that a pending action has been filed against the borrower. Of the two common methods of foreclosure, the judicial foreclosure is more costly and time consuming. It may, however, provide for the recovery of that part of the loan that was not repaid by the sale of the property at a public foreclosure sale. When there is a deficient amount realized from a foreclosure sale, the lender can sue the borrower and get a deficiency judgment against all other assets of the borrower, causing the borrower to be personally responsible for repayment of the loan.

The judicial foreclosure is conducted by the county sheriff or by a referee appointed by the court.

The buyer does not get possession of the property, in some states, until the redemption (borrower's right to pay off defaulted loan after auction sale within specified time) period is over.