Idaho Laws

Idaho foreclosures are generally pursued through non-judicial means, as most mortgages in the state contain Powers of Sale clauses entitling the lender to pursue foreclosures outside of the court system if a homeowner defaults. The process generally takes about five months from start to finish.

The process begins when the lender mails the homeowner a Notice of Default outlining the delinquent amount owed and their intention to foreclose if payment is not received within 115 days. At this time, the lender also files the Notice with the county records office and schedules a tentative date for a foreclosure sale, in case payment is not received within the allotted time frame. The homeowner's right to halt the e sale is stipulated by mortgage agreements, but generally it holds that a homeowner may stop a foreclosure by providing the default amount owed at any point before the sale actually takes place.

The lender must issue a Notice of Sale before a foreclosure auction can go on, and it must be published for at least four weeks in a local weekly newspaper.

Generally, the foreclosure auction is conducted by a trustee of the lender or an attorney. Once a winning bidder has been established, that person must provide payment of their bid immediately. Once payment is received, the winning bidder is entitled to full ownership of the property ten days after the sale has concluded.

Idaho foreclosures do not allow the original homeowner any rights to redemption once a sale is concluded.

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