[WSBARP] HUD NOD and NOTS ??

[Stromberg, Spencer]

Hi Jonathan -

I was about to reply that the Secretary of HUD is not exempt from state
foreclosure laws, but I decided to look up the notice first. Then I looked
at the statute cited by the notice. I'm glad I did - I definitely learned
something new today. I've been in real estate law for almost 30 years and I
didn't know the Sec. of HUD has its own set of foreclosure laws. The Single
Family Mortgage Foreclosure Act (12 USC 3751-3768) is the equivalent of RCW
Ch. 61.24, giving the Sec. of HUD the ability to nonjudicially foreclose
mortgages held by it on as little as 21 days' notice. I take it this
applies largely, if not solely, to FHA mortgages where HUD has paid out on
the insurance and taken an assignment from the original lender.

Interesting. Thanks for sharing.

*Spencer A. W. Stromberg*
Attorney at Law


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On Mon, Apr 3, 2023 at 12:46 PM Jonathan Smith <
jonathan at advantagelegalgroup.com> wrote:

> A client has come with a recorded, March 13, 2023, combination of NOD and
> NOTS, in Pierce county which provides for a sale date one month from the
> date of recording, or April 14, 2023.  I have not seen an NOD and NOTS
> combined before, and I have not seen a 30 day foreclosure date. This is
> being done by the Secretary of HUD, but has something changed or is this
> new, or is HUD exempt from state foreclosure statutes? Why have I not seen
> this sort of thing before? Thanks.
>
>
>
> Jonathan Smith
>
> Attorney at Law
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