What type of foreclosure procedure does NOT require judicial intervention?

Nonjudicial foreclosure is the correct answer because it is a foreclosure process that allows lenders to reclaim a property without going through the court system. This method is typically used when the deed of trust or mortgage includes a power of sale clause, which enables the lender to sell the property to recover the outstanding loan amount after the borrower defaults. The process involves specific steps, such as notifying the borrower, allowing time for them to cure the default, and then conducting a public auction to sell the property.

In contrast, judicial foreclosure requires the lender to file a lawsuit against the borrower in court to obtain a judgment before the property can be foreclosed. This can lead to a more lengthy and complex process due to the necessary court proceedings. Accelerated foreclosure, while not a common term, often refers to expedited procedures within a judicial context and still involves judicial intervention. Statutory foreclosure may refer to state-specific laws that dictate foreclosure procedures, but it typically does not eliminate the need for court involvement. Thus, nonjudicial foreclosure stands out as the type of foreclosure that operates outside judicial oversight.