---
kind: "section"
citation: "24 C.F.R. § 203.356"
title: "24"
number: "203.356"
heading: "Notice of foreclosure and pre-foreclosure sale; reasonable diligence requirements."
url: "https://uscodex.org/cfr/24/203.356"
---

# §203.356. Notice of foreclosure and pre-foreclosure sale; reasonable diligence requirements.

- (a) **Notice of foreclosure and pre-foreclosure sale.** The mortgagee must give notice to the Secretary, in a format prescribed by the Secretary, within 30 days after the institution of foreclosure proceedings. The mortgagee must give notice to the Secretary, in a format prescribed by the Secretary, within the time-frame prescribed by the Secretary, of the acceptance of any mortgagor into the pre-foreclosure sale procedure.
- (b) **Reasonable diligence.** The mortgagee must exercise reasonable diligence in prosecuting the foreclosure proceedings to completion and in acquiring title to and possession of the property. A time frame that is determined by the Secretary to constitute “reasonable diligence” for each State is made available to mortgagees.

## Notes

### Amendments

[61 FR 36265, July 9, 1996]

### Authority

Authority: 12 U.S.C. 1707, 1709, 1710, 1715b, 1715z-16, 1715u, and 1715z-21; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

### Source

Source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

### Amendments

[61 FR 36265, July 9, 1996]