What does 'mortgagee's notice of default' mean?

It informs the borrower that the lender says payments are in default and plans to sell the property to satisfy the loan.

Who is at risk from this notice?

The homeowner (Shirley Speer) faces potential loss of the property and possible remaining debt after sale.

Can the borrower stop the sale?

Typically the borrower can stop foreclosure by curing the default or negotiating with the lender before the sale date, if provided.

Foreclosure — Sharp County

Official courthouse record · Indexed in NoticeRegistry archive · AI-enriched for research

Lender

Affects:HomeownersCreditorsProperty Buyers

A mortgagee (First Community Bank) notifies that borrower Shirley Speer is in default on mortgages recorded in Sharp County and intends to sell the secured property. If the property is sold the borrower may remain liable for any remaining debt.

Key Takeaways

Mortgages recorded April 1, 2024 and November 14, 2024
Borrower: Shirley Speer is alleged to be in default
First Community Bank intends to sell the property
Sale could leave borrower liable for any deficiency

Published: May 22, 2026 · today
Category: Foreclosure
City: Sharp County

If you don't respond

If no action is taken before the foreclosure sale, the property may be sold and the borrower may remain liable for any deficiency; a collection action may follow. (Specific sale date not provided in notice.)

What to do next

1
Contact the lender immediately
Reach out to First Community Bank to confirm the default details, request payoff amount, and discuss reinstatement or loan modification options.
2
Locate the full notice and sale date
Obtain the complete recorded notice (Instrument #2401733 and #L202405916) at Sharp County Recorder to find the foreclosure sale date and cure deadline.
3
Seek legal help
Consult a foreclosure attorney or housing counselor right away to review rights and possible defenses before the sale.

Frequently asked questions

What does 'mortgagee's notice of default' mean?: It informs the borrower that the lender says payments are in default and plans to sell the property to satisfy the loan.
Who is at risk from this notice?: The homeowner (Shirley Speer) faces potential loss of the property and possible remaining debt after sale.
Can the borrower stop the sale?: Typically the borrower can stop foreclosure by curing the default or negotiating with the lender before the sale date, if provided.

The suggestions and answers above are AI-generated for general information only. They can be wrong, and we don't take responsibility for their accuracy. Talk to a qualified professional before acting on them.

Legal terms in this notice

Mortgagee: The lender or entity holding the mortgage (here, First Community Bank).
Mortgage: A loan secured by real property; failure to pay can lead to foreclosure.
Deficiency: The remaining debt owed if sale proceeds are less than the loan balance.

Full Notice Text

MORTGAGEE'S NOTICE OFDEFAULT AND INTENTION TOSELLYOU MAY LOSE YOUR PROP-ERTY IF YOU DO NOT TAKE IM-MEDIATE ACTION.IF YOUR PROPERTY IS SOLD,YOU WILL REMAIN LIABLE FORANY DEFICIENCY WHICH THENEXISTS AND AN ACTION FORC O L L E C T I O N M A Y B EBROUGHT AGAINST YOU.Whereas, Shirley Speer, a SinglePerson, executed a Mortgagedated April 1, 2024, in favor ofFirst Community Bank, which wasfiled for record on April 1, 2024,as Instrument# 2401733, in Re-cord Book 2024, at PG: 05651-05658, in the records of SharpCounty, Arkansas;Whereas, Shirley Speer, a SinglePerson, executed a Mortgagedated October 31, 2024, in favorof First Community Bank, whichwas filed for record on November14, 2024, as Instrument #L202405916, in Record Book2024, at PG: 20181-20188, in therecords of Sharp County, Arkan-sas;Whereas, default h

Foreclosure — Sharp County

What to do next

Frequently asked questions

Legal terms in this notice

See also

More from First Community Bank→