In Washington most loans on real estate are secured by a Deed of Trust.
A Deed of Trust may be foreclosed by the holder of the debt in an out of court process by providing notice to the property owner and the public of a sale date and selling the property at a public auction. The holder of the debt also has the option of filing a lawsuit to collect on the note, obtaining a judgment against the borrower, and after obtaining a judgment, asking the Sheriff to sell the property to apply to the judgment.
In addition to, or instead of selling the property, the debt holder can take any other collection measures such as garnishment of wages or bank accounts to collect the debt.
Attorney at Law
Blado Kiger Bolan, Tacoma, Wash.