1. A copy of the RECORDED Deed of Trust
2. A copy of the Note
3. A copy of the RECORDED Assignments, if applicable
4. Breakdown of the Arrearages, i.e. date the delinquency started, monthly payments, monthly late charges, and any other costs that may have been paid, i.e. taxes, insurance, property inspections, etc.

Foreclosure Method
A Mortgage must be Foreclosed Judicially if it does not contain a power of sale. If it contains a power of sale, it may be foreclosed by advertisement and sale, the sale being conducted by the Sheriff. Sale by advertisement is by two notices, a Pendancy of Foreclosure and Power of Attorney, and a Notice of Defaults, etc. Both Notices are recorded and mailed to interested parties. The Notice of Defaults, etc. is also Posted and/or served on the Occupants of the subject real estate, and published. This process takes approximately 90 days.

If a judicial foreclosure is necessary, the judicial procedure is started immediately.

After either type of sale, there is either a 6 month or 12 month redemption period. There are several requirements for a shortened redemption period, having to due with loan balance and size and use of the land being foreclosed.

Foreclosure
General Time Frame 75 Days
Post – Sale Redemption 6 Months but can be reduced
Postponement Allowed ????
FNMA Fee $650
FHLMC Fee $500/$800 if done judicially
FHA Fee $700
VA Fees Adjusted Accordingly
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Important Notice
Kleinsmith & Associates, P.C. operates within Fannie Mae fee schedules and timelines and will provide the same coverage as a “FNMA Network Certified” law firm. Should any loss or damage occur as a result of a mistake by our firm during the foreclosure process, which we cannot rectify, Kleinsmith & Associates, P.C. will indemnify the servicer against any loss or damage.