Reply To: Foreclosure Practices for Small Servicers February 18, 2014 at 9:08 pm EST #5440 rcooperMember 1024.41(f) will apply to you. There is nothing stated in regulation that allows the borrower to waive the 120 day rule. It would be a good idea to consult with your attorney on other options – deed in lieu of foreclosure might be a possibility.