FORE/HANSON/DOCUMENT NO. A-545711
Published 10:48 am Wednesday, February 17, 2021
Notice Of Pendency
And Notice Of Default
And Foreclosure Sale
12 U.S.C. ch. 38A
NOTICE IS HEREBY GIVEN pursuant to 12 U.S.C ch. 38A that (a) default has occurred in the conditions of the Adjustable Rate Home Equity Conversion Mortgage given April 13, 2006, executed by Jean S. Hanson and Richard C. Hanson, her husband, as mortgagor, to Wells Fargo Bank, N.A., as mortgagee, recorded as Document No. 460761 in the office of the County Recorder in and for Freeborn County, Minnesota, on April 19, 2006 (the “Mortgage”), which Mortgage was assigned to Nationstar Mortgage LLC d/b/a Champion Mortgage Company by a Corporate Assignment of Mortgage dated October 5, 2017, and recorded as Document No. A529509 in the office of said County Recorder on October 16, 2017, which Mortgage was further assigned to the Secretary of Housing and Urban Development, its successors and assigns, by the Corporate Assignment of Mortgage dated December 19, 2017, recorded as Document No. A-530537 in the office of said County Recorder on December 26, 2017, and (b) a foreclosure of the Mortgage will be conducted as hereinafter set forth.
The name and address of the Foreclosure Commissioner is:
Allen E. Christy
2100 AT&T Tower
901 Marquette Avenue
The date on which this Notice is issued is:
February 9, 2021
The name of the Secretary of Housing and Urban Development is:
The name of the original mortgagor is:
Jean S. Hanson and
Richard C. Hanson
The name of the original mortgagee is:
Wells Fargo Bank, N.A.
The real property subject to the Mortgage that will be foreclosed has the following common address and property tax identification number:
1303 Fairlane Terrace
Albert Lea, MN 56007
Property Tax Identification No.
The real property subject to the Mortgage is Abstract property, and is located in Freeborn County, Minnesota, and legally described as follows, to-wit:
Lot 8 in Block 3, of Ridgewood Park Subdivision, and lying and being the City of Albert Lea, Freeborn County, Minnesota; the “Property”.
The default upon which foreclosure is based is the failure to pay the remaining balance of the principal indebtedness, accrued interest, and late charges secured by the Mortgage following acceleration pursuant to section 9(a)(i) of the Mortgage (“The borrower dies and the Property is not the principal residence of at least one surviving borrower”), in the total amount of $119,948.62 as of October 13, 2020. By virtue of this default, the Secretary has declared the entire amount of the indebtedness secured by the Mortgage to be immediately due and payable.
NOW THEREFORE, pursuant to powers vested in me by the Single Family Mortgage Foreclosure Act of 1994, 12 U.S.C. § 3751 et seq., by 24 CFR part 29, subpart B, and by the Secretary’s designation of me as Foreclosure Commissioner recorded as Document No. A-545711 in the office of said County Recorder on November 30, 2020, notice is hereby given that on March 15, 2021, at 11:00 o’clock A.M. local time, the Property and all real and personal property at or used in connection with the Property, will be sold at public auction to the highest bidder.
The sale will be held at 1303 Fairlane Terrace, Albert Lea, MN 56007. The Secretary of Housing and Urban Development will bid the entire amount of the indebtedness, all accrued interest, all taxes and insurance premiums the Secretary may have paid, and all costs and disbursements (including without limitation the commission, costs, and disbursements due the Foreclosure Commissioner).
There will be no proration of taxes, rents or other income or liabilities, except that the purchaser will pay, at or before closing, his prorata share of any real estate taxes that have been paid on the Property by the Secretary to the date of the foreclosure sale.
If making their bid before the scheduled sale, all bidders except the Secretary must submit a deposit totaling 10% of their own bid in the form of a certified check or cashier’s check made out to the Secretary of HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit totaling 10% of the successful bid in the form of a certified check or cashier’s check made out to the Secretary of HUD must be presented before the bidding is closed. The deposit is nonrefundable. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid deposits, must be delivered in the form of a certified or cashier’s check. If the Secretary is the high bidder, he need not pay the bid amount in cash. The successful bidder will pay all conveyancing fees, all real estate and other taxes that are due on or after the date of closing and all other costs associated with the transfer of title. At the conclusion of the sale, the deposits of the unsuccessful bidders will be returned to them.
The Secretary may grant an extension of time within which to close. All extensions will be for 15-day intervals for a fee of $500.00 each, paid in advance. The extension fee shall be in the form of a certified or cashier’s check made payable to the Secretary of HUD. If the high bidder closes the sale prior to the expiration of any extension period, the unused portion of the extension fee shall be applied toward the amount due.
If the high bidder is unable to close the sale within the required period, or within any extensions of time granted by the Secretary, the high bidder may be required to forfeit the cash deposit or, at the election of the Foreclosure Commissioner after consultation with the HUD representative, will be liable to HUD for any costs incurred as a result of such failure. The Foreclosure Commissioner may, at the direction of the HUD representative, offer the property to the second highest bidder for an amount equal to the highest price offered by that bidder. All other terms of the sale would remain the same. If the second highest bidder rejects the Foreclosure Commissioner’s offer, the HUD representative will provide instructions to the Foreclosure Commissioner about cancellation of the sale or other action to be taken.
There is no right of redemption, or right of possession based upon a right of redemption, in the mortgagor or others subsequent to a foreclosure completed pursuant to the Act. Therefore, the Foreclosure Commissioner will issue a Deed to the purchaser(s) upon receipt of the entire purchase price in accordance with the terms of the sale as provided herein. HUD does not guarantee that the property will be vacant.
The scheduled foreclosure sale shall be cancelled or adjourned if it is established, by documented written application of the mortgagor to the Foreclosure Commissioner not less than three days before the date of sale, or otherwise, that the default or defaults upon which the foreclosure is based did not exist at the time of service of this Notice of Default and Foreclosure Sale, or all amounts due under the Mortgage are tendered to the Foreclosure Commissioner, in the form of a certified or cashier’s check payable to the Secretary of HUD, before public auction of the property is completed.
The Mortgage may be reinstated by the mortgagor by curing the condition that resulted in acceleration of the indebtedness, and by paying all other amounts that would he due under the Mortgage if payments under the Mortgage had not been accelerated, advertising costs and postage expenses incurred in giving notice, mileage by the most reasonable road distance for posting notices and for the Foreclosure Commissioner’s attendance at the sale, reasonable and customary costs incurred for title and lien record searches, the necessary out-of-pocket costs incurred by the Foreclosure Commissioner for recording documents, a commission for the Foreclosure Commissioner, and all other costs incurred in connection with the foreclosure prior to reinstatement.
Tender of payment by certified or cashier’s check or application for cancellation of the foreclosure sale shall be submitted to the address of the Foreclosure Commissioner provided below.
THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTIFICATION OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION.
THIS COMMUNICATION IS FROM A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION WILL BE USED FOR THIS PURPOSE.
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DATED: February 9, 2021.
Allen E. Christy,
STATE OF MINNESOTA
COUNTY OF HENNEPIN
The attached or foregoing instrument was acknowledged before me this 9th day of February, 2021, by Allen E. Christy, Foreclosure Commissioner.
This Instrument was
DeWITT LLP (aec)
2100 AT&T Tower
901 Marquette Ave.
Published in the Albert Lea Tribune on the 17th & 24th days of February & the 3rd, day of March, 2021.