[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR27.111]



[Page 302]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 27_NONJUDICIAL FORECLOSURE OF MULTIFAMILY AND SINGLE FAMILY MORTGAGES

--Table of Contents

 

      Subpart B_Nonjudicial Foreclosure of Single Family Mortgages

 

Sec.  27.111  Adjournment or cancellation of sale.



    (a) The foreclosure commissioner may, before or at the time of the 

foreclosure sale, adjourn or cancel the foreclosure sale in accordance 

with the provisions of the Statute. The publication of the Notice of 

Default and Foreclosure Sale, revised pursuant to the Statute, may be 

made on any of three separate days before the revised date of 

foreclosure sale. If there is no newspaper of general circulation that 

would permit publication on any of three separate days before the 

revised date of foreclosure sale, the Notice of Default and Foreclosure 

Sale must be posted, not less than nine days before the date to which 

the sale has been adjourned, at the courthouse of any county or counties 

in which the property is located, and at the place where the sale is to 

be held. The commissioner must also, in the case of a sale adjourned to 

a later date, mail a copy of the revised Notice of Default and 

Foreclosure Sale to the Secretary at least seven days before the date to 

which the sale has been adjourned.

    (b) When a substitute commissioner is designated by the Secretary to 

replace a previously designated foreclosure commissioner, the sale shall 

continue without prejudice unless the substitute commissioner finds, in 

that commissioner's sole discretion, that continuation of the 

foreclosure sale will unfairly affect the interests of the mortgagor. 

Any such finding shall be in writing. If the substitute commissioner 

makes such a finding, the substitute commissioner shall cancel or 

adjourn the sale.