Does Idaho Law Allow for a Redemption Period After a Foreclosure?
Sometimes. There is no statutory right of redemption if a property is foreclosed outside of the court system and non judicial foreclosures are the most common type of foreclosures in Idaho. However, if a judicial foreclosure is pursued then the borrower does have a statutory right of redemption. The amount of time that a borrower has to redeem the property depends on the size of the property that is foreclosed. If the property is 20 acres or more then the borrower has one year to redeem the property. If the property is less than 20 acres then the borrower has six months in which to redeem the property following the foreclosure sale.
Additional Foreclosure Articles
- Where and When do Foreclosure Sales Take Place in Idaho?
- What Public Notice Requirements are There for a Real Estate Foreclosure in Idaho?
- Can a Lender Sue a Borrower for a Deficiency Judgment if the Lender is Still Owed Money After a Foreclosure Sale in Idaho?
- How Can a Lender Foreclose on a Property in Idaho?
- How Long Does the Typical Foreclosure Process Take in Idaho?
- Can I Keep My Home If I File Bankruptcy in Idaho?