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Stop Foreclosure - Wyoming |
Wyoming Foreclosure Law Summary
Most Common Method of Foreclosure: Power of Sale.
Preforeclosure Notice:
Number of Notices: Two: Notice of Intent to Foreclose, and Notice of Sale.
Amount of Notice Required: Notice of Intent to Foreclose must be served by certified mail ten days before beginning publication.
Notice of Sale must be published four weeks prior to the sale. Prior to the first publication, a copy of the Notice of Sale must be served by certified mail upon the record owner, the person in possession if different than the record owner, and holders of recorded mortgages and liens which appear of record at least 25 days before the sale date.
Content of Notice: a) Name of mortgagor and mortgagee; b) date of mortgage and when recorded; c) amount due under mortgage; d) description of the property; e) terms of sale; and f) a statement that "The property being foreclosed upon may be subject to other liens and encumbrances that will not be extinguished at the sale and any prospective purchaser should research the status of title before submitting a bid."
Method of Service: By publication, and by certified mail with return receipt requested. Must also serve notice on the person in possession of the property if different than the record owner.
Redemption: Within three months from date of sale.
Post-Sale Provisions Regarding Proceeds: Surplus goes to the mortgagor on demand. For foreclosures and execution sales commenced on or after July 1, 2005, proceeds are paid in the following order: a) reasonable collection and enforcement expenses, and mortgagee's attorney fees and legal expenses to the extent provided by law, b) satisfaction of the obligations secured by the mortgage being foreclosed; c) satisfaction of subordinate or junior mortgages or liens; and d) surplus proceeds to the mortgagor.
Deficiency: A deficiency judgment is obtainable if a separate written agreement obligates the mortgagor.
Stop Foreclosure Wyoming
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