2015 US Code
Title 12 - Banks and Banking (Sections 1 - 5710)
Chapter 38A - Single Family Mortgage Foreclosure (Sections 3751 - 3768)
Sec. 3758 - Service of notice of foreclosure sale
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 12 - BANKS AND BANKING |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 12 - BANKS AND BANKING CHAPTER 38A - SINGLE FAMILY MORTGAGE FORECLOSURE Sec. 3758 - Service of notice of foreclosure sale |
Contains | section 3758 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 103-327, title II, Sept. 28, 1994, 108 Stat. 2316. |
Statutes at Large Reference | 108 Stat. 2316 |
Public and Private Law | Public Law 103-327 |
Congressional Bill | S.2281 103rd Congress |
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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) TimingNot 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) Notice by mail(A) In generalThe notice of foreclosure sale shall be sent by certified or registered mail, postage prepaid and return receipt requested, to the following:
(i) Current ownerThe 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) MortgagorsAll 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) Dwelling unitsAll dwelling units in the security property (whether or not the notice describes a sale adjourned).
(iv) Other lienholdersAll 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) Timing(i) Notice under clauses (i) and (ii)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)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)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) Effectiveness of noticeNotice 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) Publication(A) In generalA 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) ExceptionIf 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.
(Pub. L. 103–327, title II, Sept. 28, 1994, 108 Stat. 2316.)
CODIFICATIONSection 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.
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