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Illinois Real Estate Exam

Category - Illinois

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When selling under a power of sale in a trust deed, the trustee must wait three months after recording the Notice of Default before:

Taking possession
Foreclosure is final
Transferring title to beneficiary
Publishing notice of sale

Explanation

Answer: D - A notice of sale can be published in a newspaper of general circulation only after the prescribed 3 months waiting period in the foreclosure action. The 3 months waiting period commences with the recording of the “notice of default.”

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Illinois Real Estate Exam

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Illinois Real Estate Exam

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