Explaination of the Foreclosure Process

Information relating to the foreclosure process is being provided solely as an aid to homeowners who are facing foreclosure. HWM is not providing legal advice and homeowners are advised to seek independent legal counsel if they have questions relating to a foreclosure.

Under Utah’s state code, a foreclosure can either be conducted judicially or non-judicially. The vast majority of foreclosures in Utah are conducted non-judicially. Non-judicial foreclosures are governed by U.C.A. § 57-1-19 through § 57-1-36. Once a loan is in default, the foreclosure begins by the Trustee of the Deed of Trust recording a Notice of Default with the Country Recorder in the county the property is located. Pursuant to U.C.A. § 57-1-31 a borrower may pay the entire amount then due under the terms of the deed of trust (including costs and expenses incurred in enforcing the terms of the Note and Deed of Trust, and the Trustee’s and Attorney fees actually incurred) other than the portion of the principal as would not be due had no default occurred, and thereby cure the existing default.

If the default is not cured after the three month period from when the Notice of Default was recorded, the Trustee may schedule a foreclosure sale. Pursuant to U.C.A. § 57-1-25, the Trustee will set the sale, publish notice of the sale at least three times, once a week for three consecutive weeks and post notice of the sale on the property to be sold. At the foreclosure sale, the Trustee will either sell the property to the highest bidder or postpone the sale of the property. If the sale is postponed, notice of the postponement is only made at the foreclosure sale, therefore, our Firm recommends that all homeowners attend their scheduled foreclosure sale.