A trustee's sale is scheduled on a property in Pocatello, Idaho. The Notice of Sale has been properly recorded. Under the Idaho Trust Deeds Act, how far in advance of the scheduled sale date must the Notice of Sale be posted and recorded?
Correct Answer
D) At least 120 days before the scheduled sale date
Under the Idaho Trust Deeds Act (I.C. § 45-1506), the Notice of Sale must be posted on the property and recorded with the county recorder at least 120 days before the scheduled trustee's sale date. This 120-day notice period is separate from and in addition to the 115-day cure period that begins with the Notice of Default. Both timelines must be satisfied before a trustee's sale can lawfully proceed.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The secondary mortgage market is where existing mortgage loans are bought and sold between lenders, investors, and government-sponsored enterprises (GSEs) like Fannie Mae, Freddie Mac, and Ginnie Mae.
TILA is a federal law that requires lenders to disclose the true cost of credit to borrowers, including the annual percentage rate (APR), total finance charges, and loan terms. It is implemented by Regulation Z.
A trustee sale is a type of foreclosure where a trustee, appointed under a deed of trust, sells the property at auction to satisfy the debt.
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