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When you develop a definite plan of action with well-timed, well-informed steps, you can stop the foreclosure process and save
your home. We have outlined the foreclosure process for the state of Utah.
Judicial Foreclosure Available: yes
Non-judicial Foreclosure Available: No
Utah recognizes judicial foreclosure. There may be but one action for recovery of the debt or any foreclosure sale.
Procedure
The lender must file a lawsuit seeking foreclosure. If the court finds there has been a default, it may order the foreclosure sale to
proceed. The court will also adjudge the amount due on the defaulted loan. The sheriff will conduct the sale under court order in
the same manner as normal execution sales. The sheriff will publish notices and conduct a public sale. Any surplus from the sale
will go to the person who is owed the money, by court order, or stay on deposit with the court until it decides how to distribute it.
Special Procedures
The borrower may be restrained by a court injunction from injuring the real property during the foreclosure of the mortgage or
during a foreclosure execution sale.
Deficiency
Utah allows deficiency judgments. If the foreclosure sale proceeds are insufficient to pay off the loan balance to the lender, then
execution may be issued by the court after the sale to seize property until the debt is repaid.
Redemption
Utah recognizes a right of redemption after the sale in the same way as for regular judgments. However, a Utah court sitting in
equity may extend the time for redemption so there is no set length of time. |
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House Payment Rescue 5458 Longley Lane Suite A,
Reno, NV 89511
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Office Phone: 775-824-9002 Cell Phone: Fax: 775-824-9015 |
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Copyright ©
2007 House Payment Rescue |
All rate, payment, and area information are estimates and approximations
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