A Washington State lender records a Notice of Default on April 1. Under RCW 61.24, the trustee must wait at least 30 days before issuing the Notice of Trustee's Sale, and the Notice of Trustee's Sale must be issued at least 90 days before the sale. If the trustee issues the Notice of Trustee's Sale on the earliest possible date, what is the earliest date the trustee's sale can be held? (Assume no month has fewer than 30 days for this calculation, and the 190-day total minimum from Notice of Default applies.)
Correct Answer
D) October 8 (190 days after Notice of Default)
Step 1: Notice of Default recorded on April 1. Step 2: Minimum 30-day cure period → earliest Notice of Trustee's Sale can be issued: April 1 + 30 days = May 1. Step 3: Notice of Trustee's Sale must be at least 90 days before the sale → earliest sale date from Notice of Trustee's Sale: May 1 + 90 days = July 30. Step 4: However, RCW 61.24.040 requires a minimum of 190 days from the Notice of Default to the sale date. April 1 + 190 days = October 8. Step 5: Since July 30 is earlier than October 8, the 190-day minimum controls. The earliest possible trustee's sale date is October 8 (190 days after April 1).
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Financing Question
Background Knowledge for Financing
Real World Application in Financing
Common Mistakes to Avoid on Financing Questions
Related Topics & Key Terms
Key Terms:
Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
The loan-to-value ratio (LTV) is the percentage of a property's appraised value or purchase price (whichever is lower) that is being financed through a mortgage. LTV = Loan Amount / Property Value.
A comparison of the major mortgage loan types—conventional, FHA, VA, and USDA—covering their eligibility requirements, down payment amounts, mortgage insurance rules, and best use cases.
More Financing Questions
Which Hawaii rule controls when a lender intends to use power of sale foreclosure on residential property?
A Hawaii licensee is reviewing a candidate asks whether a Hawaii mortgage passes title to the mortgagee. What is the best answer?
Wisconsin recording fees are paid to the:
An appraisal of a Wisconsin dairy farm would most likely use:
Property tax prorations at a Wisconsin closing are typically calculated:
- → The FHA loan program in Wisconsin allows buyers to purchase with as little as:
- → Wisconsin's WHEDA (Wisconsin Housing and Economic Development Authority) assists homebuyers by:
- → Wisconsin foreclosures are:
- → Wisconsin uses which theory of mortgage law?
- → In Utah, what is the standard non-judicial foreclosure process under a deed of trust?
- → After a non-judicial foreclosure sale in Utah, does the borrower have a statutory right of redemption?
- → A Utah lender requires private mortgage insurance (PMI) on a conventional loan. Under what condition can the borrower request PMI cancellation under the federal Homeowners Protection Act?
- → Utah is classified as which type of state regarding the security instrument used for most residential mortgage loans?
- → Under Utah law, which of the following liens generally has the HIGHEST priority?
- → A Utah property has both a first mortgage and a second mortgage. If the first mortgage is foreclosed, what happens to the second mortgage?
People Also Study
Buyer Representation Agreement
8% of exam
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam
Related Articles
Real Estate Exam Practice Questions by Topic (2026): Free Sets for Contracts, Agency, Financing
Get topic-based real estate exam practice sets and a simple sequence to move from learning to timed mocks.
Real Estate Exam Topics (2026): High-Yield Areas + Common Traps (Contracts, Agency, Financing, Fair Housing)
Learn the highest-frequency real estate exam topics and the traps that cause most wrong answers—plus how to study them.
Real Estate Exam Financing: Mortgages, APR, Amortization (2026) + 20 Practice Problems
Learn mortgages, APR, amortization, and the financing questions most likely to appear—plus practice problems.