Idaho Foreclosure Laws

In Idaho, the foreclosure properties are mainly achieved via an non judicial settlement. Typically it takes about five months for such a process.

Period of Pre-foreclosure

Foreclosure proceeding is set in motion when the lender sends a notice to the borrower about the defaulting payment. The court notice may also be sent to any one who requests for the notice. If the borrower pays up the default amount including any associated costs to the lender with 115 days, then the foreclosure process is topped and the case resolved. In some cases, the lender allows the borrower to stop the process of foreclosure till the date of public sale.

The lender should also file a notice of default with the county recorder. Once the default notice has been recorded, the lender can go ahead and advertise the schedule for the sale of the property.

Auction Notice

A borrower received a notice of sale at least hundred and twenty days prior to the date of the sale. This notice contains information about the lender, the borrower, the trustee, besides containing a description of the foreclosure property, the necessary information such as the default amount, and the time, date and sale location. This notice is also published in a local paper once every week for four consecutive weeks, and the final notice needs to be published at least 30 days in advance of the date of sale.

In the State of Idaho, the attorney/s of the trustee conducts the sale. The trustee has the authority to delay the sale by up to 30 days by making a public announcement at the time of the original sale. The sale can also be rescheduled by the trustee, however, a new sale notice will have to be published again, and the notice will have to send to all parties involved all over again. The rescheduled trustee sale will be conducted at the time, date and place mentioned in the sale notice or as published in the rescheduled sale notice. The time for sale is typically between 9:00am - 4:00pm.

Any individual can participate in the bid, but the trustee will transfer the ownership of the foreclosed property only after getting the full payment by the winner of the bid. The winner of the bid gets complete possession of the property not before 10 days from the time of the sale.

Any non judicial foreclosure proceeding conducted with the state of Idaho withdraws all rights to redemption from the borrower once the sale is completed.

If you need more information about Idaho foreclosure laws, you should contact a foreclosure lawyer, or contact us so we can recommend one for you.

Boundary Bonner Kootenai Shoshone Benewah Latah Clearwater Nez Perce Lewis Idaho Adams Valley Lemhi Custer Washington Payette Gem Boise Canyon Ada Elmore Owyhee Twin Falls Camas Gooding Blaine Lincoln Butte Clark Fremont Jerome Minidoka Cassia Jefferson Madison Teton Bonneville Bingham Power Oneida Bannock Caribou Franklin Bear Lake