2023 Vermont Statutes
Title 12 - Court Procedure
Chapter 172 - Foreclosure of Mortgages
§ 4962. Notice of intention to foreclose

§ 4962. Notice of intention to foreclose

(a) At least 30 days prior to service of a notice of sale pursuant to subsection 4952(c) of this title, notice of intention to foreclose in a writing complying with this section shall be sent to the mortgagor by registered or certified mail at his or her last known address.

(b) The writing required by this section shall state, in a manner calculated to make the mortgagor aware of the situation:

(1) the mortgage to be foreclosed;

(2) the mortgage condition claimed to have been breached;

(3) that the mortgagee has accelerated maturity of the debt secured by the mortgage, if that is the case;

(4) the amount to be paid or other action necessary to cure, and the time within which the cure must take place, which shall be not less than 30 days after the date of the notice of intention to foreclose;

(5) the intention of the mortgagee to foreclose by exercising the power of sale contained in the mortgage, if the breach of the mortgage condition is not cured within the time and in the manner specified in the notice; and

(6) that the mortgagor will be entitled to be sent notice of the foreclosure sale at least 60 days prior to the sale and to redeem the mortgaged property at any time prior to the sale by paying the full amount due under the mortgage, including the costs and expenses of the sale.

(c)(1) The following notice of intent to foreclose form may be used and may be altered as circumstances require:

(2) This subsection shall not be construed to prevent the use of other forms except that all notices shall comply with the provisions of subsection (b) of this section. (Added 2011, No. 102 (Adj. Sess.), § 1.)