A Washington State borrower, Grace, is 45 days past the date of a recorded Notice of Default and has not cured her default. She contacts a broker asking whether she still has any options to stop the foreclosure. The trustee has not yet issued a Notice of Trustee's Sale. Which of the following most accurately describes Grace's options under RCW 61.24?
Correct Answer
D) Grace may still cure the default at any time before the trustee's sale, including after the Notice of Trustee's Sale is issued, up until 11 days before the scheduled sale date.
Under RCW 61.24.040, a borrower retains the right to cure the default and reinstate the loan at any time before the trustee's sale, not just during the initial 30-day cure period following the Notice of Default. Specifically, the borrower may cure up until 11 days before the scheduled trustee's sale date. Since the Notice of Trustee's Sale has not yet been issued, Grace still has significant time and the full right to cure. The 30-day period after the Notice of Default is the minimum before the trustee can issue the Notice of Trustee's Sale — it is not the only window for the borrower to cure.
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