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Home Foreclosures: Hawaii

Haw. Rev. Stat. §§ 667-1.5 to 667-20.1 (Judicial, or Foreclosure by Action), 667-21 to 667-41 (Non-Judicial, or Power of Sale)

Most Common Method of Foreclosure: Power of sale. Prior to 2012, there were two alternative processes for non-judicial foreclosure. In 2012, the Hawaii legislature repealed one of these processes, and there is now only one non-judicial process, which is contained in §§ 667-21 to 667-41. The judicial foreclosure process remains available.

Home Foreclosures: Idaho

Idaho Code §§ 45-1505 to 45-1515

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: Two; notice of default and notice of sale.

Amount of Notice Required: Notice of sale: After recording notice of default and at least one hundred twenty days prior to sale.

Home Foreclosures: Illinois

735 Ill. Comp. Stat. 5/15-1501 to 5/15-1605

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No. § 5/15-1405.

Home Foreclosures: Indiana

Ind. Code §§ 32-30-10-1 to 32-30-10-14, 32-29-1-1 to 32-29-1-11, 32-29-7-1 to 32-29-7-14

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No. § 32-29-1-3.

Home Foreclosures: Iowa

Iowa Code §§ 654.1 to 654.26

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No (§ 654.1), except as provided in § 654.18 (Alternative Non-judicial Voluntary Foreclosure Procedure) or § 655A (Non-judicial Foreclosure of Nonagricultural Mortgages). The mortgagee waives the deficiency if an alternative procedure is used.

Home Foreclosures: Kansas

Kan. Stat. Ann. §§ 60-2410, 60-2414 to 2415

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No.

Judicial Foreclosure Procedure: Complaint filed in local district court. § 60-601. If personal service, mortgagor has twenty-one days to respond. If service by publication, mortgagor has forty-one days. § 60-212.

Home Foreclosures: Kentucky

Ky. Rev. Stat. Ann. §§ 426.525 to 426.720 (West)

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No. § 426.525.

Judicial Foreclosure Procedure: Complaint filed in circuit court. Defendants have twenty days to respond from the day following date of service. Ky. R. Civ. P. 4.02.

Preforeclosure Notice:

Number of Notices: One.

Home Foreclosures: Maine

Me. Stat. tit. 14, §§ 6101 to 6327

Most Common Method of Foreclosure: Judicial/strict foreclosure.

Foreclosure by Power of Sale Permitted?: No, except against a corporation or partnership or limited liability company. § 6203-A.

Home Foreclosures: Maryland

Md. Code Ann. Real Prop. §§ 7-105 to 7-105.8 (West); Md. Rules 14-201 to 14-216, 14-305 to 14-306

Most Common Method of Foreclosure: Power of sale with court supervision.

Preforeclosure Notice:

Number of Notices: Three; notice of intent, order to docket, and notice of sale.

Home Foreclosures: Massachusetts

Mass. Gen. Laws ch. 244, §§ 14, 17B, 18, 35A, 35B, 35C

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Home Foreclosures: Michigan

Mich. Comp. Laws §§ 600.3101 to 600.3185, 600.3201 to 600.3285

Most Common Method of Foreclosure: Power of sale. The party foreclosing must be either the owner of the indebtedness or of an interest in the indebtedness secured by the mortgage or the servicing agent of the mortgage. If the party foreclosing is not the original mortgagee, a record chain of title must exist prior to the sale date evidencing the assignment of the mortgage to the party foreclosing. § 600.3204.

Home Foreclosures: Minnesota

Minn. Stat. §§ 580.01 to 580.30

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: Two; notice of sale and foreclosure advice notice, but the latter is to be delivered with the former. §§ 47.20 (right to cure before acceleration), 580.021, 580.022 (notice and form to encourage use of counseling services). Notice of redemption rights must be delivered with notice of sale. § 580.041.

Home Foreclosures: Mississippi

Miss. Code Ann. §§ 89-1-55 to 89-1-59

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One; notice of sale.

Amount of Notice Required: If by advertisement, three consecutive weeks before the sale. § 89-1-55.

Content of Notice: Name of the original mortgagor, terms and place of sale.

Home Foreclosures: Montana

Mont. Code Ann. §§ 71-1-222 to 71-1-235, 71-1-301 to 71-1-321 (Small Tract Financing Act)

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One; notice of sale.

Amount of Notice Required: Thirty days. § 71-1-224. 120 days for Small Tract Financing Act. § 71-1-315.

Home Foreclosures: Montana

Mont. Code Ann. §§ 71-1-222 to 71-1-235, 71-1-301 to 71-1-321 (Small Tract Financing Act)

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One; notice of sale.

Amount of Notice Required: Thirty days. § 71-1-224. 120 days for Small Tract Financing Act. § 71-1-315.

Home Foreclosures: Nebraska

Neb. Rev. Stat. §§ 76-1005 to 76-1018 (power of sale); 25-2137 to 25-2155 (judicial)

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: Two; notice of default and notice of sale. § 76-1006.

Home Foreclosures: Nevada

Nev. Rev. Stat. § 107.080, 40.455 to 40.463

Most Common Method of Foreclosure: Power of sale for deeds of trust.

Preforeclosure Notice:

Number of Notices: Two; notice of default (breach) and election to sell; and notice of sale. § 107.080.

Home Foreclosures: New Hampshire

N.H. Rev. Stat. Ann. § 479:25

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One; notice of sale. § 479.25. If the mortgage is a second mortgage, the borrower must be served with a notice of intent to foreclose fifteen days before commencement of the foreclosure proceedings. § 397-A:16-a.

Home Foreclosures: New Jersey

N.J. Stat. Ann. §§ 2A:50-1 to 2A:50-21, 2A:50-53 to 2A:50-69 (West) (residential mortgage only)

Most Common Method of Foreclosure: Suit in equity.

Foreclosure by Power of Sale Permitted?: No, in most circumstances (§§ 2A:50-2.2, 2A:50-2.3); can waive the right to a judicial foreclosure if the property is non-residential; is not one-, two-, three-, or four-family in which the borrower lives; is a second mortgage; and if the lender is a bank.

Home Foreclosures: New Mexico

N.M. Stat. Ann. §§ 48-7-1 to 48-7-24, 39-5-1 to 39-5-23, 48-10-1 to 48-10-21 (power of sale)

Most Common Method of Foreclosure: Judicial. Required for residential loans. § 58-21A-6E. Note: The power of sale statute was amended in 2006 to remove the prohibition on powers of sale in residential deeds of trust. As power of sale is likely to be the more common method for post-2006 contracts, both procedures are summarized.

Home Foreclosures: New York

N.Y. Real Prop. Acts. Law §§ 1301 to 1393 (McKinney)

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: Statute authorizing non-judicial foreclosure of non-residential properties expired July 1, 2009. § 1401.

Home Foreclosures: North Carolina

N.C. Gen. Stat. §§ 45-21.1 to 45-21.38A

Most Common Method of Foreclosure: Power of sale with prior hearing before clerk.

Preforeclosure Notice:

Number of Notices: Four: preforeclosure notice; notice of default; notice of hearing; and notice of sale.

Home Foreclosures: North Dakota

N.D. Cent. Code §§ 32-19-01 to 32-19-41

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No, except mortgages held by the state which contain a power of sale. § 35-22-01.

Judicial Foreclosure Procedure: Action is brought in district court. § 32-19-01. The complaint must state whether the plaintiff will seek a deficiency judgment. § 32-19-04. The sale is made by the sheriff. § 32-19-08.

Home Foreclosures: Ohio

Ohio Rev. Code Ann. §§ 2323.07, 2329.01 to 2329.61, 5301.39 (West)

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: No. See Etna Coal & Iron v. Marting, 127 F. 32 (6th Cir. 1904).