Stop Foreclosure Idaho

Did you know there are several programs that can help save your Idaho home and stop the impending foreclosure? Loss Mitigation Agencies, such as ours, are experts in these programs and have assisted thousands of homeowners by providing straight answers and viable solutions.

Sometimes things beyond your control can put you into a financial bind that makes it hard to keep up with your mortgage payments. Don't let a missed mortgage payments in Idaho ID turn into default, mortgage foreclosure or eviction.

You and your family can rely upon us to provide guidance, comfort and assurance through this current situation. Let us reduce your stress and put you at ease.

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Idaho ID Foreclosure Laws

Lenders in the state of Idaho may foreclose on deeds of trusts in default using a non-judicial foreclosure process.

Non-Judicial Foreclosure

If a power of sale clause exists in the deed of trust or mortgage document, a non-judicial process of foreclosure is used. This allows the lender to sell the property and pay off the balance of the loan in the event the homeowner defaults.

Power of Sale Foreclosure Procedure

If the deed of trust has a power of sale clause and it details the time, place and terms of sale, then the outlined procedure must be followed. However, if the power of sale clause does not clarify the time, place and terms of sale, then a foreclosure sale is conducted as follows:

Notice of sale is recorded in the county where the property is located. The borrower and the occupant of the property (if not the same) receive notice of sale at least one hundred twenty (120) days prior to the date of the sale.

The notice of the sale must include the nature of the default and the lender’s decision to sell. The notice also sets the date, time, place and basis for the sale.

The notice must be published in the newspapers in the county where the property is located at least once a week for four (4) successive weeks. The final advertisement must run no less than thirty (30) days prior to the foreclosure sale.

 A sale may be postponed and held at a new time and place, if it is within thirty (30) days of the originally scheduled sale.

The lender may file a deficiency of judgment suit within ninety (90) days after the foreclosure sale. Judgment may not exceed the difference between the entire amount of the debt and the fair market value of the property at the time of sale.

The borrower has up to one year after the sale to redeem if more than twenty (20) acres are involved. They have six months for land parcels of less than twenty (20) acres.

Legal Information Is Not The Same as Legal Advice This site provides information about Idaho state foreclosure law designed to help users safely cope with their own legal needs and possible find alternatives. Everyone's legal status is different. The laws of every state are in constant change and we recommend you consult a lawyer.