 Utah Mortgage Loan Modification Guidelines
When you develop a definite plan of action with well-timed, well-informed
steps, you can stop the foreclosure process and save your home. We have
outlined the foreclosure process for the state of Utah.
Judicial Foreclosure Available: Yes
Non-judicial Foreclosure Available : No
Utah recognizes judicial foreclosure. There may be but one action for
recovery of the debt or any foreclosure sale.
Procedure
The lender must file a lawsuit seeking foreclosure. If the court finds
there has been a default, it may order the foreclosure sale to proceed.
The court will also adjudge the amount due on the defaulted loan. The sheriff
will conduct the sale under court order in the same manner as normal execution
sales. The sheriff will publish notices and conduct a public sale. Any
surplus from the sale will go to the person who is owed the money, by court
order, or stay on deposit with the court until it decides how to distribute
it.
Special Procedures
The borrower may be restrained by a court injunction from injuring the
real property during the foreclosure of the mortgage or during a foreclosure
execution sale.
Deficiency
Utah allows deficiency judgments. If the foreclosure sale proceeds are
insufficient to pay off the loan balance to the lender, then execution
may be issued by the court after the sale to seize property until the debt
is repaid.
Redemption
Utah recognizes a right of redemption after the sale in the same way as
for regular judgments. However, a Utah court sitting in equity may extend
the time for redemption so there is no set length of time.
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