Who must a creditor send notice of a foreclosure sale to?

In a foreclosure sale, the creditor is required to send notice to both the debtor and any guarantors. This requirement is rooted in the principles of fairness and due process, ensuring that all parties who have a financial interest in the collateral are informed of the impending sale and have an opportunity to protect their interests.

The debtor needs to be informed as they are the party whose property is being sold, and their financial obligations remain. Guarantors, on the other hand, are individuals or entities that have promised to fulfill the obligations of the debtor if the debtor defaults. By notifying guarantors, creditors are ensuring that all parties who may be affected by the sale and have a vested interest in the outcome have adequate notice.

This approach helps maintain the integrity of the secured transaction system and promotes transparency, allowing affected parties to potentially intervene or negotiate before the foreclosure takes place. Other options, such as notifying only the debtor or just other secured creditors, do not encompass the complete range of interested parties, failing to provide sufficient notification to all who may be impacted by the foreclosure action.