Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about terms and costs associated with the mortgage loan, including specific requirements during foreclosure proceedings
Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, including requirements for loan servicers during the foreclosure process
Fair Debt Collection Practices Act (FDCPA): Federal law regulating debt collection practices, including communications and procedures during foreclosure
Servicemembers Civil Relief Act (SCRA): Federal law providing special protections to military service members during foreclosure proceedings
State Foreclosure Statutes: State-specific laws governing foreclosure procedures, timelines, and requirements that vary by jurisdiction
Notice Requirements: State-mandated requirements for providing notice to borrowers, including timing and content of Notice of Default and Notice of Sale
Redemption Period Laws: State laws determining the period during which a borrower can reclaim their property after foreclosure by paying the full amount owed
Deficiency Judgment Laws: State regulations governing whether and how a lender can pursue the borrower for any remaining balance after the foreclosure sale
Recording Requirements: Local county and state requirements for properly recording foreclosure documents and notices
Public Auction Procedures: Legal requirements for conducting foreclosure sales, including notice, advertising, and execution of the sale
Lien Priority Rules: Legal framework determining the rights and priorities of different lienholders in the foreclosure process
Bankruptcy Stay Provisions: Federal bankruptcy laws that may affect or stay foreclosure proceedings when a borrower files for bankruptcy
