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Foreclosure Procedure
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Judicial Foreclosure Available: Yes
Non-judicial Foreclosure Available: No
Foreclosure by Advertisement
Wyoming permits the use of a deed of
trust which allows foreclosure by advertisement. The deed of trust names
a trustee who will conduct the foreclosure.
Preliminary Notices
Advertising
Notice of the foreclosure must be
published once a week for four consecutive weeks in the newspaper for
the county in which the property is located.
Mailing
Notice must be mailed or delivered to
the borrower and the occupant at least ten days before the first
publication of ads in the newspapers.
Sale Procedures
Time
The foreclosure sale must take place at
public auction between the hours of 9 A.M. and 5 P.M.
Judicial Foreclosure
In judicial foreclosure, the lender
forecloses by filing a lawsuit and obtaining a court-ordered sale. There
are no prescribed advertising procedures on court-ordered sales, but
they are usually advertised. The sheriff usually conducts the sale. The
sale takes place between the hours of 10 A.M. and 5 P.M. The sheriff
will then issue a certificate of purchase to the high bidder at public
auction.
Deficiency A lender may sue for a
deficiency if there is a note associated with the mortgage or deed of
trust, or it contains a separate covenant to pay.
Redemption
Redemption is permitted.
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