A home foreclosure occurs when a mortgage lender redeems the mortgage from a homeowner once the borrower defaults on their obligations by taking back the home. The mortgage lender will take possession of the property and sell it to try to recover the money lent to the borrower. Foreclosure by judicial sale is a court-supervised sale of the property with the proceeds going first to the mortgage holder, then lien holders, and, finally, if anything is left, to the borrower. Foreclosure by power of sale is another variation, used if a power of sale clause is included in the mortgage. This process is cheaper and faster than a judicial sale since the property may be sold without the supervision of a court. The proceeds from the sale will be paid as in the judicial sale, first to the mortgage holder, then to lien holders, and finally to the borrower, if anything is left.