Idaho Foreclosure
The Idaho foreclosure process is always non-judicial, meaning there's no court involved. If the deed of trust that you, the borrower, signed contains a power of sale clause specifying the time, place and terms of the sale of the home, then that procedure is followed.
However, if the deed of trust does not contain a power of sale clause or if the terms are not specified, then the following non-judicial foreclosure process is followed:
- A notice of sale must be recorded at the county and a copy must be given to you, the borrower, and occupants of the home (if you don't live in it).
- The sale cannot occur until at least 120 days after you get the copy of the notice of sale.
- This notice must also be published in a newspaper in the county where your property is located. It must be published at least once per week for 4 consecutive weeks
- The very last ad must be run at least 30 days before the sale is to occur.
- The sale can be postponed at any time, but must be held at most 30 days after the original sale date.
This process usually takes about 5 months to complete. After the sale, you can still get your property back if you pay all the money owed. If your property is 20 acres or more you have up to 1 year to get it back. Otherwise, you'll have 6 months.
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