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Idaho Foreclosure Law

Idaho Foreclosure Law works on the Title theory in which the title of the property remains with the lender or the trustee until the full payment is not done in case the property is to be foreclosed upon. Only non-judicial foreclosure is available in Idaho according to the foreclosure laws. The instrument is Deed of Trust that contains the title. For commercial properties it is the security agreement that is considered as a legal instrument in ID.

Non Judicial Foreclosure

In Non Judicial foreclosure there is clause pertaining to the Power of Sale so the involvement of court is very less. To start the process of foreclosure according to law, the lender first of all gives the notice of default to the County's office where the property is located. Along with this borrower should also be served the same notice and that too 120 days prior to the sale. And if the home to be foreclosed is occupied then the homeowner must be served with 3 Notices of Sale during seven days but on different dates. It should be done 30 days before the auction.

Idaho Foreclosure Law: Procedures

Then according to the Idaho foreclosure law the property is sold in auction and the highest bidder after making the payment gets the title. But the auction of the foreclosure home can also be postponed for 30 days. Now according to the law in Idaho if the size of the property is more than 40 acres then the judicial foreclosure is carried out in which there is no provision for the sale of the property and court's order must be involved in this. Moreover it usually takes about 150 days for the non-judicial foreclosure to effectuate.

But if the borrower seeks the help of the court and presents his/her case and ask for the postponement of the foreclosure process or files for bankruptcy then the process can take more time than usual.

Now if you are facing the foreclosures in Idaho then you can check the list of websites given by Realestatezing.com regarding law firms giving information on Idaho Foreclosure law.
 
Just Law Inc
Just Law Inc is a law firm in Idaho that caters the needs of mortgage banking industry. The services in regard to foreclosure, deed-in lieu, evictions, deficiency action,litigation etc are given to their clients.
Website: http://www.justlawidaho.com/summary.html
 
877 You Keep
877 You Keep has helped you with the information on the ID foreclosure law. At the same time it also assist you by giving foreclosure help and the tells the ways to stop the process.
Website: http://www.877youkeep.com/Idaho-Foreclosure-Law
 
Foreclosures SOS
Foreclosures SOS helps you to stop the foreclosure and also makes you familiar to the entire process.
Website: http://www.foreclosuressos.com/foreclosures-idaho.php


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