How Foreclosure Works in Idaho

Both. A deed of trust gives the trustee a power of sale, so it may be foreclosed outside court "by advertisement and sale" (a trustee's sale). At the lender's option, it may instead be foreclosed in court like a mortgage. A trustee's sale cannot proceed while a lawsuit to recover the debt is pending.

For a trustee's sale, the trustee or lender must record a notice of default with the county recorder and mail it to owners and anyone who requested notice, with a required "NOTICE REQUIRED BY IDAHO LAW" warning about foreclosure-rescue claims and the 5-day right to rescind certain foreclosure-related contracts. At least 120 days before the sale, a notice of sale must be sent by registered or certified mail to the borrower, successors and junior lienholders. At least three good-faith attempts must be made, at least 30 days before the sale, to personally serve an adult occupant, with the notice posted on the property. The notice must also be published once a week for four weeks in a local newspaper, with the last publication at least 30 days before the sale.

The notice of sale must be mailed at least 120 days before the trustee's sale. The last newspaper publication and the occupant-service attempts must occur at least 30 days before the sale, and affidavits of mailing, posting and publication must be recorded at least 20 days before the sale. A sale may be postponed in steps of no more than 30 days at a time; for a regulated lender's loan on a primary residence, the trustee must mail notice at least 14 days before conducting a postponed sale.

Yes. In a trustee's sale foreclosure, the borrower (or a junior lienholder) may cure within 115 days after the notice of default is recorded by paying the amount then due (not counting principal that would not be due without the default), plus actual enforcement costs, a reasonable trustee's fee and attorney's fees allowed by the note. In a court foreclosure, the cure may be made any time before the foreclosure decree is entered. After a cure, the proceedings are dismissed and the loan is reinstated.