Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by Findlaw Staff
The notice of default and foreclosure sale to be served in accordance with this chapter shall set forth--
(1) the name and address of the foreclosure commissioner;
(2) the date on which the notice is issued;
(3) the names of--
(A) the Secretary;
(B) the original mortgagee (if other than the Secretary); and
(C) the original mortgagor;
(4) the street address or a description of the location of the security property, and a description of the security property, sufficient to identify the property to be sold;
(5) the date of the mortgage, the office in which the mortgage is recorded, and the liber number and folio or other appropriate description of the location of recordation of the mortgage;
(6) identification of the failure to make payment, including the due date of the earliest installment payment remaining wholly unpaid as of the date on which the notice is issued upon which the foreclosure is based, or a description of any other default or defaults upon which foreclosure is based, and the acceleration of the secured indebtedness;
(7) the date, time, and location of the foreclosure sale;
(8) a statement that the foreclosure is being conducted pursuant to this chapter;
(9) a description of the types of costs, if any, to be paid by the purchaser upon transfer of title;
(10) the amount and method of deposit to be required at the foreclosure sale (except that no deposit shall be required of the Secretary) and the time and method of payment of the balance of the foreclosure purchase price; and
(11) any other appropriate terms of sale or information, as the Secretary may determine.
Cite this article: FindLaw.com - 12 U.S.C. § 3757 - U.S. Code - Unannotated Title 12. Banks and Banking § 3757. Notice of default and foreclosure sale - last updated January 01, 2024 | https://codes.findlaw.com/us/title-12-banks-and-banking/12-usc-sect-3757/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)