Idaho Foreclosure Laws

Expected Timeline: Five to six months
Security Instrument: Deed of trust
Type of Process: Nonjudicial
Protections for Servicemembers: Idaho Code § 46-409
Time to Respond: Homeowners must be given 120-day Notice of Default and Sale. Personal service must be attempted and notice posted on property at least 30 days before sale. Newspaper publication notices required over four consecutive weeks at least 30 before auction date.
Reinstatement Period: Available within 115 days of Notice of Default and Sale being filed.
Protections for High-Cost Mortgages: None.
Redemption Period: None.
Eviction Process: New owner entitled to possession ten days after sale. Court order required to remove former owners from property. Eviction hearing must be scheduled within twelve days of a complaint and summons being filed in court.
Deficiency Judgments: May be allowed if separate lawsuit is brought within three months of sale. Amount of judgment restricted to fair market value at time of sale.
Limits on Deficiency Judgments: Lawsuit for deficiency must be brought within 3 months of the public auction. Deficiency limited by fair market value as of the date of the sale.
Cash Exempted in Bankruptcy: None.
State Statutes: Idaho Code § 45-1505 to 45-1515

Judicial Foreclosure procedures are not available in Idaho . All foreclosures are of the Non-Judicial process. All deeds of trust in Idaho contain a power of sale clause that authorizes the lender to sell the property in the event the borrower defaults on the loan. If the power of sale clause specifies the time, place, and terms of the sale, those details are followed. If the clause does specify these items, the lender follows a set of procedures to sell the property.

1. A notice of sale must be given to the borrower and occupants of the property at least one hundred and twenty (120) days before the scheduled sale date. The notice must also be recorded in the county in which the property is located. In addition, the notice must contain the lender's name, the nature of the default, a full legal description of the property, the street address, the date, time, and place the sale is to be conducted at, and the contact information of the person conducting the sale, including name and phone number. Publication of the notice must be done in a local newspaper in the county in which the property is located for four (4) consecutive weeks before the sale. The final publication can not be less than thirty (30) days before the scheduled sale date.
2. The sale may be postponed for an additional thirty (30) days and set at a new time and place, but must take place as specified in the notice of sale.

The borrower has either a twelve month or six month redemption period. If the property has twenty (20) acres or more, the redemption period is twelve months. If the property has less than twenty acres, there is a six month redemption period.

he lender has the right to sue the borrower for a deficiency judgment if the sale proceeds are not sufficient to pay off the due loan balance plus costs.

State Website: www.legislature.idaho.gov