§ 3758. — Service of notice of foreclosure sale.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3758]
TITLE 12--BANKS AND BANKING
CHAPTER 38A--SINGLE FAMILY MORTGAGE FORECLOSURE
Sec. 3758. Service of notice of foreclosure sale
The foreclosure commissioner shall serve the notice of default and
foreclosure sale described in section 3757 of this title upon the
following persons and in the following manner, and no additional notice
shall be required to be served, notwithstanding any notice requirements
of any State or local law:
(1) Timing
Not less than 21 days before the date of the foreclosure sale,
the notice of default and foreclosure sale shall be filed in the
manner authorized for filing a notice of an action concerning real
property according to the law of the State in which the security
property is located or, if none, in the manner authorized by section
3201 of title 28.
(2) Notice by mail
(A) In general
The notice of foreclosure sale shall be sent by certified or
registered mail, postage prepaid and return receipt requested,
to the following:
(i) Current owner
The current security property owner of record, as the
record existed 45 days before the date originally set for
the foreclosure sale (whether or not the notice describes a
sale adjourned).
(ii) Mortgagors
All mortgagors of record or other persons who appear on
the basis of the record to be liable for part or all of the
mortgage debt, as the record existed 45 days before the date
originally set for the foreclosure sale (whether or not the
notice describes a sale adjourned).
(iii) Dwelling units
All dwelling units in the security property (whether or
not the notice describes a sale adjourned).
(iv) Other lienholders
All persons holding liens of record upon the security
property, as the record existed 45 days before the date
originally set for the foreclosure sale (whether or not the
notice describes a sale adjourned).
(B) Timing
(i) Notice under clauses (i) and (ii)
Notice under clauses (i) and (ii) of subparagraph (A)
shall be mailed not less than 21 days before the date of the
foreclosure sale, and shall be mailed to the current owner
and mortgagor at the last known address of the current owner
and mortgagor, or, if none, to the address of the security
property, or, at the discretion of the foreclosure
commissioner, to any other address believed to be that of
such current owner and mortgagor.
(ii) Notice under clause (iii)
Notice under clause (iii) of subparagraph (A) shall be
mailed not less than 21 days before the date of the
foreclosure sale. If the names of the occupants of the
security property are not known to the Secretary, or the
security property has more than 1 dwelling, the notice shall
be posted at the security property not less than 21 days
before the foreclosure sale.
(iii) Notice under clause (iv)
Notice under clause (iv) of subparagraph (A) shall be
mailed not less than 21 days before the date of the
foreclosure sale, and shall be mailed to each such
lienholder's address of record or, at the discretion of the
foreclosure commissioner, to any other address believed to
be that of such lienholder.
(C) Effectiveness of notice
Notice by mail pursuant to this section or section 3756(c)
of this title shall be deemed duly given upon mailing, whether
or not received by the addressee and whether or not a return
receipt is received or the notice is returned.
(3) Publication
(A) In general
A copy of the notice of default and foreclosure sale shall
be published once a week during 3 successive calendar weeks
before the date of the foreclosure sale. Such publication shall
be in a newspaper or newspapers having general circulation in
the county or counties in which the security property being sold
is located. To the extent practicable, the newspaper or
newspapers chosen shall be a newspaper or newspapers having
circulation conducive to achieving notice of foreclosure by
publication. A legal newspaper that is accepted as a newspaper
of legal record in the county or counties in which the security
property being sold is located shall be considered a newspaper
having general circulation for the purposes of this paragraph.
(B) Exception
If there is no newspaper published at least weekly which has
a general circulation in one of the counties in which the
security property being sold is located, copies of the notice of
default and foreclosure sale shall be posted not less than 21
days before the date of the foreclosure sale--
(i) at the courthouse of any county or counties in which
the security property is located; and
(ii) at the place where the sale is to be held.
(Pub. L. 103-327, title II, Sept. 28, 1994, 108 Stat. 2316.)
Codification
Section is based on section 809 of title VIII of S. 2281, One
Hundred Third Congress, as reported July 13, 1994, which was enacted
into law by Pub. L. 103-327.
Section Referred to in Other Sections
This section is referred to in sections 3756, 3759, 3760, 3761,
3764, 3765 of this title.
