Federal · Title 12 — Banks and Banking
12 U.S.C. § 3757: Notice of default and foreclosure sale
Read the full statutory text
the name and address of the foreclosure commissioner; the date on which the notice is issued; the Secretary; the original mortgagee (if other than the Secretary); and the original mortgagor; the street address or a description of the location of the security property, and a description of the security property, sufficient to identify the property to be sold; the date of the mortgage, the office in which the mortgage is recorded, and the liber number and folio or other appropriate description of the location of recordation of the mortgage; identification of the failure to make payment, including the due date of the earliest installment payment remaining wholly unpaid as of the date on which the notice is issued upon which the foreclosure is based, or a description of any other default or defaults upon which foreclosure is based, and the acceleration of the secured indebtedness; the date, time, and location of the foreclosure sale; a statement that the foreclosure is being conducted pursuant to this chapter; a description of the types of costs, if any, to be paid by the purchaser upon transfer of title; the amount and method of deposit to be required at the foreclosure sale (except that no deposit shall be required of the Secretary) and the time and method of payment of the balance of the foreclosure purchase price; and any other appropriate terms of sale or information, as the Secretary may determine.
Verify at the official source: Federal legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.