Washington Dc Foreclosure Laws

One might expect that the foreclosure process in the capitol of the United States would be a quagmire of double talk and legalities. That is not really the case. In fact the procedures here are actually a lot simpler than they are in a lot of less populated areas of the country.

The judicial foreclosure is not allowed in the District of Columbia and the non-judicial method is the standard mode of operation. The main security instrument allowed is the Deed of Trust and the borrower is not allowed to any right of redemption but the lender can get a deficiency judgement and the whole process only takes somewhere around sixty days to complete.

In order to begin the steps needed for the non-judicial foreclosure in the District of Columbia it requires that a power of sale clause authorizing the lender, in the event of default, to sell the property to recover the loan balance.

If the power of sale clause specifies the time, place, and terms of sale, then that procedure must be followed. If there is no such clause, then the lender must obtain a court order outlining the terms of sale in order to proceed as a foreclosure.

Also, the lender has to send a written notice of sale to the borrower via certified mail, and also send a copy to the Mayor's office. The sale may then take place any time after the 30 days after receipt of the notice of sale by the Mayor's office.

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