Mary Reese, Clara Bell,




[ The above release should be recorded the same as the mortgage. ]

How To Foreclose A Mortgage

Methods of foreclosure vary in different States, but possess some general features, thus:

Application to a court of chancery for authority to foreclose; notification to the mortgagor; hearing of the parties; reference to a master in chancery; advertising the property; selling it at a specified time to the highest bidder at auction; deeding it to the purchaser, and paying over any surplus funds remaining from the sale to the mortgagor. To illustrate:

Joseph Lacy and his wife, owning certain lands in Cumberland county, Tennessee, and needing money to use in establishing a small mercantile business at Nashville, borrow $1,500 of Robert Jones, their neighbor, and give him a mortgage for the amount, on certain real estate in Cumberland county, valued at from $2,500 to $3,000, bearing even date with Lacy's promissory note, due at the end of three years, at six per cent. interest per annum, the interest to be paid every six months. Two years elapse, and Lacy neglects to pay interest on his note after the first six months. Robert Jones, having therefore decided to foreclose the mortgage on account of this default, gives notice thereof in form following, by publishing it in some newspaper in the county where the land is located, twelve weeks or as long as the State laws require:

Notice Of Intended Sale Of Mortgaged Property

Mortgagee's Sale. - Whereas, Joseph Lacy, and Emily Lacy, his wife, did, by their certain mortgage, dated the third day of July, 1874, and recorded in the recorder's office of Cumberland county, Tennessee, in book 74 of records, at p. 302, convey to the undersigned as mortgagee the real estate hereinafter described, to secure the payment of the certain promissory note of said Joseph Lacy, of even date with said mortgage, for the sum of $1,500, payable on or before three years after the date thereof, to the order of Robert Jones, the undersigned, with interest, at the rate of six per cent. per annum.

And, whereas, default has been made in the payment of said promissory note and the interest accruing thereon since one year and six months from the date thereof;

Now, therefore, I, Robert Jones, as mortgagee, under the powers vested in me by said mortgage, and for the purposes expressed therein, will, by M. M. Wells, my attorney in fact, duly constituted therefor, on the 20th day of January, 1877, at nine o'clock in the forenoon, at the east door of the court-house at Crossville, in the county of Cumberland, in the State of Tennessee, sell at public auction, to the highest and best bidder for cash, the premises hereinafter described, and all the right, title, benefit and equity of redemption of the said Joseph Lacy, and Emily Lacy, his wife, their heirs and assigns therein, to wit: Lot seventy (70), division four (4), of the eastern subdivision in the northwest fractional quarter of section thirty-one (31), township thirty-eight (38) north, range fifteen (15) east, of the 3d P. M., in the county of Cumberland, and State of Tennessee, said lot having a frontage of 100 feet by a depth of 370 feet.

The amount claimed to be due upon the note described in said mortgage at the date of sale is $1,635.

Dated Crossville, October 7, 1876.

ROBERT JONES, Mortgagee.

When the foregoing notice has been printed the requisite number of times, the publisher of the newspaper in which it appeared, or the foreman of the printing - office from which the newspaper was issued, or the clerk of the publisher, must make an affidavit with printed copy of the mortgagee's notice of foreclosure and sale pasted beside the affidavit, as follows:

Affidavit That Notice Of Sale Has Been Published

State of Tennessee, County of Cumberland,


Martin Newman, of the city of Crossville, in said county and State, being duly sworn, says that he is the printer and publisher of the Weekly Budget, a newspaper published at Crossville, in Cumberland county, and State of Tennessee, aforesaid; and that the annexed notice of mortgage sale has been published in the said newspaper twelve weeks successively, at least once in each week, the said publication beginning on the seventh day of October, A. D. 1876, and ending on the eighth day of January, A.D. 1877.

Sworn before me this twelfth day of January, A.D. 1877, Gorham T. Stiles, J. P.


The publisher or mortgagee also makes an affidavit, to which a copy of the mortgagee's printed notice of sale is attached, that he delivered a copy of such notice to the county clerk for filing in his office.

The publisher or mortgagee also makes a similar affidavit, to which a printed copy of the mortgagee's notice of sale is attached, that he has posted a copy of said notice on the outer door of the county court-house.

The mortgagee, or some proper officer, also makes a similar affidavit, to which a printed copy of the mortgagee's notice of sale is attached, that he delivered "a true copy of said notice to the wife "(son or daughter of a competent age)" of the said Joseph Lacy, at his usual place of residence, No. - Blank street, he being absent therefrom at the time;" or that "he served the said Joseph Lacy and Emily Lacy, his wife, by delivering a copy of said notice to each of them individually, and leaving the same with them;" or "served Joseph Lacy with a notice of sale, of which the annexed printed notice is a copy, by depositing a copy of said notice in the post-office in Crossville, Tennessee, properly folded, and enclosed in a sealed envelope, and directed to him at his place of residence, No. - Blank street."

A printed copy of the mortgagee's advertisement of foreclosure and sale should be attached to the following notice, in all cases:

The Auctioneer's Affidavit of the Sale of the Mortgaged Property.