Notice of Default
Start of the foreclosure process. Notice of Default is transmitted, posted or served.
If Deed of Trust made between 1/1/03 and 12/31/07 against owner-occupied residential real property, borrower gets at least 30 days from initial contact by beneficiary or its agent before Notice of Default. Contact must be actual or attempted with due diligence and Notice to be accompanied by declaration so stating.
Engrossed Senate Bill 5810, Sec. 2 1(a) & (b), effective 7/26/09).
While the homeowner must receive a Notice of Default, it is not commonly recorded in Washington, and therefore PropertyRadar does not track NODs as preforeclosures.
Notice of Trustee Sale
Sets auction date. The Notice of Trustee Sale transmitted, posted or served at least 30 days after the Notice of Default is recorded.
(section citation amended to RCW 61.24.030(8) pursuant to Engrossed Senate Bill 5810, effective 7/26/09). This is the first notice related to the foreclosure that becomes public record.
Publication is during the 4th and 2nd weeks before sale.
Initial auction date. At least 90 days from service of Notice of Trustee Sale.
At least 190 days from date of default
The sale occurs on a Friday, or if Friday is a legal holiday on the following Monday.
Auction may be postponed for up to 120 days before process must restart.
Default may be cured with loan reinstated up to the 11th day before sale if debt brought current with no acceleration
Transfers property to highest bidder.
Possession granted 20 days after the sale.
If tenant occupied then purchaser must give 60 day notice
(but see 90 day Federal Rule. Protecting Tenants at Foreclosure Act. Public Law 111-22, Sec. 702)
There is no right of redemption.
There is no deficiency judgment.