Most loan documents in Washington contain a power of sale clause allowing a lender to foreclose upon a property in certain situations. If a lender pursues a foreclosure then the lender must publish a Notice of Sale weekly for four consecutive weeks in a local newspaper. Additionally, the Notice of Sale must be posted for four weeks prior to the sale date at the court house, in another public place and at the property that is being foreclosed.
In the absence of a power of sale clause, a lender may file a lawsuit against the borrower. The filing of the lawsuit serves as public notice of the lender’s intent to foreclose and the court may set additional public notice requirements.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.