A final judgment is signed by a judge once the foreclosure case has gone through court proceedings. The final judgment allows the lender to legally sell the property in order to recoup some of the losses from nonpayment. In the final judgment, amounts owed on the property will be listed and you are required by law to receive a copy of the court document containing this information.
o begin foreclosure proceedings, a complaint is filed in the state where the property is located. A judge reviews the case and asks the borrower whether she contests the complaint. If the foreclosure is not contested and the loan against the property not satisfied, a final judgment can be handed down to determine how much the property should be sold for, based on the amount owed to the lender.