Federal Mortgage LawsQuestion 95 of 400
Under Reg X, a servicer generally may not make the first notice or filing required for a foreclosure until the borrower is more than how many days delinquent?
a.30 days
b.120 days
c.60 days
d.90 days
Explanation
Regulation X generally prohibits a servicer from making the first notice or filing for a foreclosure process until the borrower's mortgage loan obligation is more than 120 days delinquent. This waiting period gives borrowers time to pursue loss mitigation options before foreclosure proceedings begin.
Law Reference: Real Estate Settlement Procedures Act (Reg X servicing rules)Practice all 400 questions free — no signup required.
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