District of Columbia - DC Foreclosure
District of Columbia allows ‘Power of Sale’ contained non judicial foreclosures only. Primary instrument of security is deed of trust and there is no right of redemption to the borrower. There is a typical timeline of 60 days and deficiency judgment is allowed. Lender equipped with the power of sale can go ahead with non judicial foreclosure. The non judicial foreclosure guide lines establish terms of sale if it’s not already included in the clause. Sale can begin after the borrower receiving the notice by certified mail with return receipt requested. A copy of the notice should also be given to the Mayor of District of Columbia. Sale can begin in 30 days after the Mayor receiving the notice. This is in addition to other notices set out by the court or deed of trust and mortgage.
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