Finance
A Montana homeowner with a deed of trust defaults on their loan. The trustee initiates a non-judicial foreclosure. What is the first step the trustee must take?
AFile a lawsuit in district court
BRecord a Notice of Default and send it to the borrower✓ Correct
CImmediately schedule an auction date
DNotify the Montana Board of Realty Regulation
Explanation
In a Montana non-judicial foreclosure, the trustee must first record a Notice of Default with the county clerk and recorder and provide notice to the borrower, initiating the statutory foreclosure process.
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