Wyoming Foreclosure Laws

There is nothing unusual or strange about the laws that oversee the foreclosure process in Wyoming. The state observes both judicial and non-judicial foreclosure on both mortgages and deeds of trust. The borrower is given a right of redemption and the lender is allowed to file for a deficiency judgement and the entire process here takes an average of ninety days to complete from start to finish.

As with all judicial foreclosures, the court must declare the property to be in foreclosure before a sale can be held. This means that the lender must sue the borrower to make that happen.

The non-Judicial foreclosure requires that the power of sale clause contained within the document be followed and in the event there is no such clause then a notice of intent to foreclose upon and sell the property must be sent to the borrower and / or also to any occupant of the premises by certified mail with return receipt requested at least ten days before the first publication of the notice of sale.

The aforementioned notice of sale must then be published weekly for four consecutive weeks in a newspaper in the county in which the property is located. If no local paper is available, it must be published in a paper printed in the state where the property is located.

The notice must identify the borrower, lender, and lender’s representative, include the date of recordation of the mortgage, the amount of the default, and the time and place of the sale.

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