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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).

Home Foreclosures: Oklahoma

Okla. Stat. tit. 12, §§ 686, 764 to 765, 773; Okla. Stat. tit. 46, §§ 41 to 49

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: Yes, but may not be used against a homestead, if the homeowner chooses to require judicial foreclosure, nor may it be used to foreclose a lien for an extension of credit primarily for agricultural purposes. Judgment is required. Okla. Stat. tit. 46, §§ 41, 43(A)(2).

Home Foreclosures: Oregon

Or. Rev. Stat. §§ 86.705 to 86.815

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

Preforeclosure Notice:

Number of Notices: Two; notice of default (§ 86.752) and notice of sale (§ 86.764). Notice of default must be recorded.

Home Foreclosures: Pennsylvania

35 Pa. Cons. Stat. §§ 1680.402c to 1680.409c; 41 Pa. Cons. Stat. §§ 403 to 404; Pa. R. Civ. P. 1141 to 1150

Most Common Method of Foreclosure: Judicial.

Judicial Foreclosure Procedure: Action commenced by filing a complaint in court of common pleas. Pa. R. Civ. P. 1143. Must serve the owner as well as the occupant of the property. Pa. R. Civ. P. 410.

Preforeclosure Notice: See 41 Pa. Stat. Ann. § 403; 10 Pa. Code § 7.4.

Home Foreclosures: Puerto Rico

P.R. Laws Ann. tit. 30, §§ 2701 to 2726

Most Common Method of Foreclosure: Summary procedure (§ 2701) or judicial action (P.R. R. Civ. P. 51.8, tit. 32A, Appx. V).

Preforeclosure Notice: Debtor must be given twenty days to cure default before the procedure can be initiated. Demand made by notary or certified mail. Cure amount does not include attorney fees. § 2703.

Home Foreclosures: Rhode Island

34 R.I. Gen. Laws §§ 34-27-1 to 34-27-8, 34-25.2-1 to 34-25.2-15

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One.

Home Foreclosures: South Carolina

S.C. Code Ann. §§ 15-39-610, 15-39-650, 15-39-660, 29-3-630 to 29-3-800; S.C. R. Civ. P. 71

Most Common Method of Foreclosure: Judicial.

Judicial Foreclosure Procedure: In any action, the plaintiff must establish the amount of the debt. § 29-3-630. Notice is given as in any civil action. Expedited judicial procedure is available for abandoned property. § 29-3-625.

Preforeclosure Notice:

Home Foreclosures: South Dakota

S.D. Codified Laws §§ 21-48-1 to 21-48-26

Most Common Method of Foreclosure: Power of sale. See §§ 21-47-1 to 21-47-25 for the judicial foreclosure procedure. See also §§ 21-48A-1 to 21-48A-5 for non-judicial voluntary foreclosure.

Preforeclosure Notice:

Number of Notices: One.

Home Foreclosures: Tennessee

Tenn. Code Ann. §§ 35-5-101 to 35-5-118, 66-8-101 to 66-8-114

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One; Notice of Sale.

Home Foreclosures: Texas

Tex. Prop. Code Ann. § 51.002 (West)

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: Two; notice of default and opportunity to cure (with twenty days to cure) and notice of sale (for residential mortgage foreclosures only).

Amount of Notice Required: Twenty-one days prior to sale.

Home Foreclosures: Utah

Utah Code Ann. §§ 57-1-19, 57-1-23 to 57-1-34, 78B-6-901 to 78B-6-909 (West)

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Home Foreclosures: Vermont

Vt. Stat. Ann. tit. 12, § 4941 (strict foreclosure), §§ 4945 to 4954 (judicial); §§ 4961 to 4970 (non-judicial); Vt. R. Civ. P. 80.1

Most Common Method of Foreclosure: Judicial.

Foreclosure by Power of Sale Permitted?: Power of sale foreclosure not available for residential structure or mobile home with one to four units, or individual units of condominium or cooperatives other than time-share. §§ 4961, 4931 (definition of “dwelling house”).

Home Foreclosures: Virginia

Va. Code Ann. §§ 55.1-320 to 55.1-345

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One.

Home Foreclosures: Virgin Islands

V.I. Code Ann. tit. 5, §§ 484, 492 to 496; V.I. Code Ann. tit. 28, §§ 531 to 538

Most Common Method of Foreclosure: Judicial. V.I. Code Ann. tit. 28, § 531 provides that liens on real property, except for judgment liens, whether created by a mortgage or otherwise “shall be foreclosed, and the property adjudged to be sold to satisfy the debt secured thereby, by an action of an equitable nature.”

Preforeclosure Notice:

Home Foreclosures: Washington

Wash. Rev. Code §§ 61.24.020 to 61.24.163

Most Common Method of Foreclosure: Power of sale on deed of trust. Power of sale foreclosure is not available for agricultural or farm land. § 61.24.030.

Preforeclosure Notice:

Number of Notices: Two: Notice of default and notice of sale. §§ 61.24.030, 61.24.040.

Home Foreclosures: West Virginia

W. Va. Code §§ 38-1-3 to 38-1-15

Most Common Method of Foreclosure: Power of sale.

Preforeclosure Notice:

Number of Notices: One.

Mortgage Servicing and Loan Modifications: 19(g)(1) Creditor to provide special information booklet.

1. Revision of booklet. The Bureau may, from time to time, issue revised or alternative versions of the special information booklet that addresses transactions subject to § 1026.19(g) by publishing a notice in the Federal Register. The Bureau also may choose to permit the forms or booklets of other Federal agencies to be used by creditors. In such an event, the availability of the booklet or alternate materials for these transactions will be set forth in a notice in the Federal Register.

Mortgage Servicing and Loan Modifications: 19(g)(2) Permissible changes.

1. Reproduction. The special information booklet may be reproduced in any form, provided that no changes are made, except as otherwise provided under § 1026.19(g)(2). See also comment 19(g)(2)–3. Provision of the special information booklet as a part of a larger document does not satisfy the requirements of § 1026.19(g). Any color, size and quality of paper, type of print, and method of reproduction may be used so long as the booklet is clearly legible.