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FinancingNon_judicial_foreclosure_process_and_timeline_rcw_61_24EASY

Maria defaulted on her home loan in Spokane, Washington. Her lender's trustee recorded a Notice of Default on March 1. Under RCW 61.24, what is the earliest date on which the trustee's sale could legally be conducted?

Correct Answer

D) August 8 of the same year plus an additional 30 days (approximately 190 days after Notice of Default)

Under RCW 61.24.040, the trustee's sale cannot occur until at least 190 days after the Notice of Default is recorded. With a March 1 recording date, 190 days later falls on approximately August 8 plus additional days — the earliest permissible sale date is 190 days from March 1, which is approximately August 8. Option D correctly identifies the 190-day minimum as the controlling timeline.

Answer Options
A
May 30 of the same year (90 days after Notice of Default)
B
July 8 of the same year (approximately 130 days after Notice of Default)
C
August 8 of the same year (approximately 160 days after Notice of Default)
D
August 8 of the same year plus an additional 30 days (approximately 190 days after Notice of Default)

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Related Topics & Key Terms

Key Terms:

notice_of_defaulttrustees_saleforeclosure_timelinercw_61_24190_days

Related Concepts

Usury is the practice of charging an interest rate that exceeds the maximum rate permitted by state law. Usury laws protect borrowers from excessive interest charges on loans.

A VA loan is a mortgage guaranteed by the Department of Veterans Affairs available to eligible veterans, active-duty service members, and surviving spouses. It offers no down payment and no private mortgage insurance requirements.

An adjustable-rate mortgage (ARM) has an interest rate that changes periodically based on market conditions, typically after an initial fixed-rate period. The rate adjustment is tied to a financial index plus a margin.

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