Form 2-3

The statutorily required foreclosure sale date is the first Tuesday of the month at least twenty-one days after posting of the public notice of sale and at least twenty-one days after mailing the certified mail notice to each debtor (makers and guarantors) at each debtor’s last known address. Note, however, that if the first Tuesday occurs on January 1 or July 4, the sale date is the first Wednesday of the month. In counting the twenty-one days, the entire day of posting and/or mailing is counted, but the entire day of sale is excluded.

If the deed-of-trust collateral includes real property used as a residence by the debtor, by law the debtor must also be given twenty days’ notice of default and opportunity to cure the default before accelera­tion of the maturity date of the debt, notwithstanding any agreement to the contrary in the loan docu­ments. Note that if the promissory note or deed of trust affords the borrowers a longer time to cure the default before the loan can be accelerated, use that date. A number of deeds of trust require that bor­rowers be given thirty days to cure the default before loan acceleration. The above dates are therefore subject to change if the collateral does in fact include the debtor’s residence.

Foreclosure Calendar