Quick Facts

–  Judicial Foreclosure Available: No

–  Non-Judicial Foreclosure Available: Yes

–  Primary Security Instruments: Deed of Trust

–  Timeline: Typically 150 days

–  Right of Redemption: Yes

–  Deficiency Judgments Allowed: Yes

In Idaho, lenders may foreclose on deeds of trusts in default  using the non-judicial foreclosure process.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of  sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the  clause in a deed of trust or mortgage, in which the borrower pre-authorizes the  sale of property to pay off the balance on a loan in the event of the their default.  In deeds of trust or mortgages where a power of sale exists, the power given to  the lender to sell the property may be executed by the lender or their representative,  typically referred to as the trustee. Regulations for this type of foreclosure process  are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause  and specifies the time, place and terms of sale, then the specified procedure must  be followed. Otherwise, the non-judicial power of sale foreclosure is carried out  as follows:

The notice of sale must be recorded in the county where the property  is located and given to the borrower and the occupants of the property (if not the  borrower) at least one hundred twenty (120) days before the date of 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) consecutive weeks. The  final ad must be run not less than thirty (30) days in advance of the foreclosure.  The published notice must contact a legal description of the property, its street  address and the name and phone number of someone who can give directions.

Said notice must describe the nature of the default, a legal description  of the property, as well its street address, the lender’s name, the date, time,  and place of the sale, and the name and phone number of the person conducting the  sale.

The foreclosure sale must take place on the date, at the time  and at the place specified in the notice. However, the sale may be postponed and  held at a new time and place, so long as it is within thirty (30) days of the originally  scheduled sale.

If the property consists of more than twenty (20) acres, the buyer  has a period of one (1) year to redeem said property. If it is less than twenty  (20) acres, the period of time is lessened to six months.

Click here  for more information on Idaho foreclosure laws.

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