Foreclosures in Utah usually of the non-judicial kind or they don’t involve court action. It starts with a notice given to borrowers and the public. This trust deed allows the trustee to sell the property in order to satisfy the loan. Only certain entities or parties can serve as trustees such as banks, attorneys, and title company offers. This trustee is a representative of the lender to complete the sale. This completion of the sale often occurs in the form of an auction. Before the foreclosure is even started the lender must file a notice of default and the foreclosed sale must be a public auction on a business day.

In Utah non-judicial are not the only type of foreclosure that can occur, one can also go to court and it is the courts that decide the final judgment of the foreclosure.

Now the question you may ask is how long does it take to foreclose a property in Utah? It really depends. It can take up to 120 days or longer depending on the timing of the required notices.

Foreclosures are happening more and more in the state of Utah because of the high unemployment. An article in Utah news states that from a “national report by mortgage bankers indicates one in 10 Utahns is either struggling to make house payments or is already losing the property.” (link to article)

Foreclosures in Provo UT are particular difficult to deal with for these reasons but all is not lost and help is available.