Redemption and Deficiency Judgments in Wyoming
Whether you can buy back your home after a foreclosure sale in Wyoming, and whether the lender can sue for what's still owed.
Short answer: Yes. After a sale by execution, court decree of foreclosure, or foreclosure by advertisement, the owner (or heirs, assigns or guarantors) may redeem within three months after the sale by paying the purchase price plus 10% annual interest from the sale date, plus any taxes, assessments… Wyo. Stat. §§ 1-18-103, 1-18-104
| Redemption after the sale | Yes. After a sale by execution, court decree of foreclosure, or foreclosure by advertisement, the owner (or heirs, assigns or guarantors) may redeem within three months after the sale by paying the purchase price plus 10% annual interest from the sale date, plus any taxes, assessments and prior-lien payments the buyer made, with interest. For mortgages on agricultural real estate (as defined, generally a parcel over 80 acres outside city limits and subdivisions), the period is 12 months. If the owner does not redeem, junior lienholders and judgment creditors may redeem within 30 days after the owner's period ends. Source: Wyo. Stat. §§ 1-18-103, 1-18-104 |
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| Deficiency judgments | After a foreclosure sale under Wyoming's foreclosure-by-advertisement (power of sale) statutes, the sale proceeds go first to the reasonable expenses of collection and enforcement (including, as allowed by law, the foreclosing lender's attorney's fees), then to the debt secured by the mortgage being foreclosed, then to junior mortgages and liens, with any surplus paid to the borrower on demand. The lender must account to and pay the borrower any surplus, and the borrower is liable for any deficiency. Source: Wyo. Stat. § 34-4-113 |
More Wyoming foreclosure & homeowner law
- How Foreclosure Works in Wyoming
- Getting Your Home Back After a Tax Sale in Wyoming
- All Wyoming foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Wyoming?
Yes. After a sale by execution, court decree of foreclosure, or foreclosure by advertisement, the owner (or heirs, assigns or guarantors) may redeem within three months after the sale by paying the purchase price plus 10% annual interest from the sale date, plus any taxes, assessments and prior-lien payments the buyer made, with interest. For mortgages on agricultural real estate (as defined, generally a parcel over 80 acres outside city limits and subdivisions), the period is 12 months. If the owner does not redeem, junior lienholders and judgment creditors may redeem within 30 days after the owner's period ends.
Can the lender come after you for the rest of the loan after foreclosure in Wyoming?
After a foreclosure sale under Wyoming's foreclosure-by-advertisement (power of sale) statutes, the sale proceeds go first to the reasonable expenses of collection and enforcement (including, as allowed by law, the foreclosing lender's attorney's fees), then to the debt secured by the mortgage being foreclosed, then to junior mortgages and liens, with any surplus paid to the borrower on demand. The lender must account to and pay the borrower any surplus, and the borrower is liable for any deficiency.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.