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Home Foreclosures: New Jersey

N.J. Stat. Ann. §§ 54:5-1 to 54:5-137

Method of Tax Sale: Tax Lien Certificate—sold at auction to bidder offering lowest interest rate for redemption amount. § 54:5-46.

Pre-Sale Notice:

Number of Notices: One.

Home Foreclosures: New Mexico

N.M. Stat. Ann. §§ 7-38-1 to 7-38-93

Method of Tax Sale: Tax Deed—sold at auction to highest bidder. § 7-38-70.

Pre-Sale Notice:

Number of Notices: One.

Home Foreclosures: New York

N.Y. Real Prop. Tax Law §§ 1100 to 1194 (McKinney)

Method of Tax Sale: Tax Deed—conveyed to tax district in foreclosure proceeding or sold at public auction. §§ 1166, 1168. (New York City is authorized to sell tax lien certificates; see Chapter 3 of Title 11 of the Administrative Code of the City of New York, captioned “Tax Liens and Tax Sales.”)

Home Foreclosures: North Carolina

N.C. Gen. Stat. §§ 105-349 to 105-378

Method of Tax Sale: Tax Deed—property (or so much as is necessary) sold at public auction to highest bidder. § 105-374. (An alternative, nonjudicial, in rem procedure is available under § 105-375).

Pre-Sale Notice:

Home Foreclosures: North Dakota

N.D. Cent. Code §§ 57-28-01 to 57-28-28

Method of Tax Sale: Tax Deed—property is forfeited to county and then sold at public auction to highest bidder. §§ 57-28-15, 57-28-16.

Pre-Sale Notice:

Number of Notices: Two.

Home Foreclosures: Ohio

Ohio Rev. Code Ann. §§ 5721.01 to 5721.43

Method of Tax Sale: Tax Deed (§ 5721.19) or Certificate (§ 5721.31)—sold at auction to highest bidder (deed) or sold at auction to bidder offering lowest interest rate for redemption amount (certificate). Ohio also has a statute, not summarized below, regarding disposition and redemption of property which is forfeited after two unsuccessful foreclosure sales. §§ 5723.01 to 5723.19.

Pre-Sale Notice:

Home Foreclosures: Oklahoma

Okla. Stat. tit. 68, §§ 3101 to 3147

Method of Tax Sale: Tax Deed—sold at auction to highest bidder. §§ 3131, 3132.

Pre-Sale Notice:

Number of Notices: Two. § 3106 (delinquency), § 3127 (sale).

Home Foreclosures: Oregon

Or. Rev. Stat. tit. 29, §§ 312.005 to 312.990

Method of Tax Sale: Tax Deed—property conveyed to county through court foreclosure proceeding. §§ 312.120, 312.200, 312.270.

Pre-Sale Notice:

Number of Notices: One.

Home Foreclosures: Pennsylvania

72 Pa. Stat. §§ 5860.101 to 5860.803 (Real Estate Tax Sale Law)

Method of Tax Sale: Tax Deed—sold at auction to highest bidder. §§ 5860.605, 5860.608.

Pre-Sale Notice:

Number of Notices: One.

Home Foreclosures: K.1 Generalized Glossary

Compliments of AFFIL partners: Center for Responsible Lending and the National Consumer Law Center. Italicized words are separately defined within this subsection.

Acceleration. When a creditor claims the total balance of a loan is due immediately. This cannot usually occur unless you have fallen behind on payments. In the case of a home mortgage, receipt of a letter stating that a loan has been “accelerated” is normally an important warning sign of foreclosure.

Home Foreclosures: K.2 Specialized Glossary of Mortgage Servicing Terms

The following is a glossary of terms related to the servicing of consumer mortgages. Advocates may find this glossary helpful in understanding mortgage escrow statements, loan histories, and other client account documents obtained through discovery or in response to a qualified written request under the Real Estate Settlement Procedures Act (RESPA). It includes abbreviations that commonly appear on account statements. However, these account documents often contain numerical codes and other cryptic notations used by servicers to designate particular account transactions.

Home Foreclosures: Introduction

This appendix contains forms and other documents that may be referred to or used by attorneys or housing advocates seeking to assist homeowners facing foreclosure. This appendix also includes samples of common mortgage loan documents. The forms and documents in this appendix are available online as companion materials to this treatise.

Home Foreclosures: I.1 Sample Mortgage

This sample mortgage is based on the Uniform Instruments provided by Fannie Mae and Freddie Mac for the origination of single-family residential mortgage loans in all States and U.S. Territories. State specific versions of the Fannie Mae/Freddie Mac mortgages and deeds of trusts are available at www.freddiemac.com.

MORTGAGE

DEFINITIONS

Home Foreclosures: I.4 Sample Request for Information Under RESPA to Obtain Identity of Mortgage Owner

This sample form written request can be used to obtain from a mortgage servicer information about the owner of the borrower’s mortgage. This information is particularly useful in determining the proper party in foreclosure proceedings, for exercising rescission rights, for naming the proper party in bankruptcy lien strip off and claim objection proceedings, and for effectuating service of process on the mortgage owner in litigation matters.

[date]

[mortgage servicer]

Home Foreclosures: 15.3.3.3.1 Overview

When Congress enacted the statute authorizing HUD to insure reverse mortgages, it required that such FHA-insured loans include provisions protecting the homeowner and the spouse from displacement. However, until 2014-2017, this spousal protection was not included in HUD’s regulations, policies, or model loan documents. As a result, many spouses who were not included as borrowers on the reverse mortgage faced foreclosure and displacement from their homes upon the death of the borrower spouse.

Truth in Lending: 9.3.2.2 Coverage

Coverage under the CFPB’s rule is the same as under the prior FRB rule. All loan originators, as defined in the rule, whether an in-house loan officer or a mortgage broker are covered.53 Closed-end credit secured by a dwelling is covered, including closed-end reverse mortgages, but excepting timeshares.

Home Foreclosures: B.2.3 HUD Handbooks and Mortgagee Letters

In a departure from past practice, HUD has now combined its guidance for the Single Family Home Loan Program into a single Handbook, Handbook 4000.1, available at https://www.hud.gov. The Handbook is divided into five parts. Sections one and two deal with originations of loans. The fourth section deals with claim payments and the fifth addresses addresses HUD’s quality control and oversight of lenders.

Home Foreclosures: Rhode Island

R.I. Gen. Laws §§ 44-9-1 to 44-9-56

Method of Tax Sale: Tax Deed—sold at auction to the bidder who will pay the taxes and costs due for the smallest undivided part interest in the property. § 44-9-8.

Pre-Sale Notice:

Number of Notices: Two.

Home Foreclosures: South Carolina

S.C. Code Ann. §§ 12-49-1110 to 12-49-1290, §§ 12-51-40 to 12-51-170

Method of Tax Sale: Tax Lien Certificate—sold at auction to highest bidder. §§ 12-51-130, 12-51-50.

Pre-Sale Notice:

Number of Notices: One notice of sale. After delinquency, notice by certified mail specifying that if taxes, assessments, penalties and costs are not paid before subsequent sales date, then property must be advertised and sold for same.

Home Foreclosures: South Dakota

S.D. Codified Laws §§ 10-23-1 to 10-23-33, §§ 10-24-1 to 10-24-17, §§ 10-25-1 to 10-25-45

Method of Tax Sale: Tax Lien Certificate—sold at auction to person bidding full amount of taxes, interest, and costs due, and offering lowest interest rate for redemption amount. § 10-23-8.

Pre-Sale Notice:

Number of Notices: One.

Home Foreclosures: Tennessee

Tenn. Code Ann. §§ 67-5-2001 to 67-5-2013, §§ 67-5-2101 to 67-5-2103, §§ 67-5-2501 to 67-5-2516, § 67-5-2701

Method of Tax Sale: Tax Deed—sold at auction to highest bidder. §§ 67-5-2501, 67-5-2504.

Pre-Sale Notice:

Number of Notices: One.