Most loan documents in Washington contain a power of sale clause allowing a lender to foreclose upon a property in certain situations. If a lender pursues a foreclosure then the lender must publish a Notice of Sale weekly for four consecutive weeks in a local newspaper. Additionally, the Notice of Sale must be posted for four weeks prior to the sale date at the court house, in another public place and at the property that is being foreclosed.
In the absence of a power of sale clause, a lender may file a lawsuit against the borrower. The filing of the lawsuit serves as public notice of the lender’s intent to foreclose and the court may set additional public notice requirements.
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