Summary of Tennessee's Foreclosure Laws

Learn about the key features of Tennessee foreclosure law.

If you are facing foreclosure in Tennessee, it’s important to understand some of the basics, including:

  • the most common type of foreclosure procedure (judicial v. nonjudicial) used in Tennessee
  • how much time you have to respond
  • your rights and protections in the process, and
  • what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of Tennessee foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.

Topic

State Rule

Most common type of foreclosure process

Nonjudicial under power of sale in deed of trust

Notice of the foreclosure

Foreclosing party must either publish notice of sale in a newspaper at least 20 days before sale or post notice in several public places 30 days before sale (if there is no newspaper in the county). Foreclosing party must mail the borrower a copy of the notice of sale on or before the first publication.

Reinstatement of loan before sale

Not available (except as permitted by the terms of the mortgage or deed of trust, or in the case of a high-cost home loan)

Redemption after sale

Available for up to two years after sale, unless redemption period is waived in mortgage or deed of trust

Special protections for foreclosures involving high-cost mortgages

In the case of a high-cost home loan, the lender must send a notice of right to cure to the borrower at least 30 days before publishing the notice of foreclosure. The borrower can reinstate at any time prior to three business days before the sale by paying the amount due to the lender. The right to cure a default prior to commencing a foreclosure proceeding may be exercised only once in any 12-month period.Tenn. Code Ann. §â

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