§3758 — Title 12 Banks and Banking | U.S. Code

Summary

The foreclosure commissioner must file and serve the notice of default and foreclosure sale to certain people in set ways, and no other notice is required even if state or local laws say more. The notice must be filed at least 21 days before the sale in the same way the State allows notices about real property to be filed, or if the State has no method, under the applicable federal method. The notice must be sent by certified or registered mail (postage paid and return receipt requested) at least 21 days before the sale to: the recorded owner as of 45 days before the original sale date; people on the record who owe the mortgage as of 45 days before the original sale date; all dwelling units or occupants of the property; and all recorded lienholders as of 45 days before the original sale date. Mail to the last known address, the property address, or another address believed to be correct. If occupants’ names are unknown or the property has more than one dwelling, post the notice at the property at least 21 days before the sale. Mailed notice counts as given when mailed, even if not received. Also publish the notice once a week for 3 successive calendar weeks in a newspaper with general circulation in the county. If no such weekly paper exists in a county, post copies at that county courthouse and where the sale will be held at least 21 days before the sale.

Title 12, §3758

Banks and Banking — Source: USLM XML via OLRC

The foreclosure commissioner shall serve the notice of default and foreclosure sale described in section 3757 of this title upon the following persons and in the following manner, and no additional notice shall be required to be served, notwithstanding any notice requirements of any State or local law:

(1)Not less than 21 days before the date of the foreclosure sale, the notice of default and foreclosure sale shall be filed in the manner authorized for filing a notice of an action concerning real property according to the law of the State in which the security property is located or, if none, in the manner authorized by section 3201 of title 28.

(2)(A)The notice of foreclosure sale shall be sent by certified or registered mail, postage prepaid and return receipt requested, to the following:

(i)The current security property owner of record, as the record existed 45 days before the date originally set for the foreclosure sale (whether or not the notice describes a sale adjourned).

(ii)All mortgagors of record or other persons who appear on the basis of the record to be liable for part or all of the mortgage debt, as the record existed 45 days before the date originally set for the foreclosure sale (whether or not the notice describes a sale adjourned).

(iii)All dwelling units in the security property (whether or not the notice describes a sale adjourned).

(iv)All persons holding liens of record upon the security property, as the record existed 45 days before the date originally set for the foreclosure sale (whether or not the notice describes a sale adjourned).

(B)(i)Notice under clauses (i) and (ii) of subparagraph (A) shall be mailed not less than 21 days before the date of the foreclosure sale, and shall be mailed to the current owner and mortgagor at the last known address of the current owner and mortgagor, or, if none, to the address of the security property, or, at the discretion of the foreclosure commissioner, to any other address believed to be that of such current owner and mortgagor.

(ii)Notice under clause (iii) of subparagraph (A) shall be mailed not less than 21 days before the date of the foreclosure sale. If the names of the occupants of the security property are not known to the Secretary, or the security property has more than 1 dwelling, the notice shall be posted at the security property not less than 21 days before the foreclosure sale.

(iii)Notice under clause (iv) of subparagraph (A) shall be mailed not less than 21 days before the date of the foreclosure sale, and shall be mailed to each such lienholder’s address of record or, at the discretion of the foreclosure commissioner, to any other address believed to be that of such lienholder.

(C)Notice by mail pursuant to this section or section 3756(c) of this title shall be deemed duly given upon mailing, whether or not received by the addressee and whether or not a return receipt is received or the notice is returned.

(3)(A)A copy of the notice of default and foreclosure sale shall be published once a week during 3 successive calendar weeks before the date of the foreclosure sale. Such publication shall be in a newspaper or newspapers having general circulation in the county or counties in which the security property being sold is located. To the extent practicable, the newspaper or newspapers chosen shall be a newspaper or newspapers having circulation conducive to achieving notice of foreclosure by publication. A legal newspaper that is accepted as a newspaper of legal record in the county or counties in which the security property being sold is located shall be considered a newspaper having general circulation for the purposes of this paragraph.

(B)If there is no newspaper published at least weekly which has a general circulation in one of the counties in which the security property being sold is located, copies of the notice of default and foreclosure sale shall be posted not less than 21 days before the date of the foreclosure sale—

(i)at the courthouse of any county or counties in which the security property is located; and

(ii)at the place where the sale is to be held.

Editorial Notes

Codification Section is based on section 809 of title VIII of S. 2281, One Hundred Third Congress, as reported July 13, 1994, which was enacted into law by Pub. L. 103–327.

§3758 Service of Notice of Foreclosure Sale

Summary

Title 12, §3758

Notes & Related Subsidiaries

Editorial Notes

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