Notice of Sale

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The "Notice of Sale" letter is the next benchmark to look out for after the Notice of Default is recorded.
In general, before a foreclosure auction takes place, the homeowner must be notified of the sale date if the loan document is a Mortgage Agreement or Deed of Thrust. Also, in most states, the foreclosure sale date is to be advertised in the local paper usually twice within 2-3 weeks of the auction date. These advertisements are supposed to provide details on the property, bidder requirements (auction terms and conditions), date, time and location of the auction, etc. Given the recent surge in home foreclosures and unusual amount of delays due to loan modifications and law suits against lenders, it is not clear how often lenders are advertising auction sale dates.

Timeline
The Notice of Sale is usually sent out to the homeowner at least 20 to 30 days prior to the date of the foreclosure sale. The recorded Notice of Sale may include place, date and time your home will be held for sale. If you are engaged in a loan modification, the sale will most likely be postponed several times until your mortgage modification is completed.

This is the last notice a homeowner will receive before his or her property is foreclosed.
The Notice of Sale is the last step of the foreclosure process and the last action prior to the sale of the property. Even if the sale is postponed, the lenders are not required to send out a new notice.

For more details about all foreclosure procedures in your area, please select the state where your property is located:

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