Foreclosure Questions?

Non-Judicial Foreclosure

A Deed of Trust or Trust Indenture is commonly used to secure the performance of an obligation of the grantor (borrower) to a beneficiary (lender) if the real property that is security for the loan consists of 40 acres or less. In Idaho the Deed of Trust is governed by Idaho Code Sections 45-1502-1515. In Montana the Deed of Trust or Trust Indenture is governed by Montana Code Sections 71-1-301-321 which is known as the Small Tract Financing Act of Montana.

A Deed of Trust or Trust Indenture executed in conformity with these sections may be foreclosed, non-judicially, upon default, by advertisement and sale in the manner provided by said sections. Compared to a judicial foreclosure, the non-judicial process is simple, inexpensive and time efficient. First American Specialty Services is able to facilitate this non-judicial foreclosure process.

When a borrower is in default, the lender or individual beneficiary will contact First American Specialty Services to initiate the foreclosure process. First American Specialty Services will obtain a Trustee’s Sale Guarantee from a title agent in the county where the property secured by the Deed of Trust or Trust Indenture is located. The Trustee’s Sale Guarantee will provide the information needed to facilitate the foreclosure action. First American Specialty Services will then generate the documents necessary, coordinate the statutory mailing, posting and publication and the ultimate foreclosure sale. Assurance will be given as to the compliance with the strict timelines provided for in the applicable act.

Once the process is complete, documentation has been recorded and all interested parties have received notice, a Trustee's Deed will be issued to the purchaser at the foreclosure sale. Once recorded in the county records, the Trustee's Deed conveys to the purchaser all of the interest which the grantor (borrower) had, together with any interest the grantor or his successors in interest acquired after the execution of such Deed of Trust or Trust Indenture.

Why First American?

• Insured foreclosures through Trustee's Sale Guarantee issued for each order.
• Eliminates the attorney's financial liability and shields you from the costs of re-initiation should a procedural mistake or omission void the foreclosure
• Personnel and computer resources dedicated exclusively to fulfill your foreclosure requirements.
• Good working rapport with long-term escrow companies and attorneys.
• Serving all of Idaho and Montana.