No Luxury in the Foreclosure Arena

A foreclosure is a lengthy process with a host of requirements that must be met before the foreclosure can be considered legally valid. It proceeds in very deliberate stages and each stage must be properly conducted and properly documented. Anything less can open the door to challenges that, in the worst case, can invalidate the entire process.

Although the specifics vary among lenders and among jurisdictions, foreclosure papers tend to be voluminous. There may be a Notice of Acceleration, a Notice of Default, a Notice of Intent to Foreclose, a Notice of Sale and, especially in jurisdictions that allow for a period of redemption, a foreclosure notice that is delivered after the sale has actually taken place. None of those documents is optional and all must comply with explicit requirements set by statute or regulation.