Faster and More Flexible Foreclosures: Tennessee Revises Foreclosure Sale Procedures and Notice Requirements

Banking & Financial Services Alert



In the recently completed session of the Tennessee Legislature, two Acts were passed which made three significant changes in the Tennessee foreclosure process. We will address the requirements in the order in which they normally occur in the foreclosure process. These changes are significant because they are cumulatively designed to shorten the foreclosure period and reduce publication costs. The legislation also clarifies one procedural aspect of foreclosure practice and answers a question long debated by debtors and creditors alike, namely how long may a foreclosure sale be postponed or adjourned without additional advertising and what notice requirements are imposed when a sale is postponed or adjourned?

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