1. A copy of the RECORDED Mortgage
2. A copy of the Note
3. A copy of the RECORDED Assignment if Applicable
4. Breakdown of Arrearages, i.e. date delinquency started, monthly payment, monthly late charges and any other costs that have been paid, i.e. taxes, insurance, inspections, etc.

A trust deed in Idaho may be foreclosed by private sale or by judicial foreclosure. Judicial redemption periods are rather lengthy in Idaho (6 months for property less than 20 acres, I year for property more than 20 acres) and there is therefore a preference for foreclosure by private trustee's sale, unless other factors (such as title problems caused by mechanic's lien claims) indicate a judicial foreclosure is required. Generally, a mortgage, as opposed to a deed of trust, must be judicially foreclosed.

The process of foreclosure by private trustee's sale normally starts with the designation of the law firm as successor trustee. The current trustee’s duly notified of the beneficiary's (lender/servicer) intention to appoint a successor trustee and a "Resignation of Trustee" and "Appointment of Successor Trustee" are filed of record. Our firm, the new trustee, files a "Notice of Default" of record. A copy of this "Notice of Default" is sent by registered or certified mail to the proper parties.

During a period of 115 days following the recording of the "Notice of Default" the grantor, his successor in interest, and anyone having a subordinate trust deed, lien, or encumbrance may cure the default and reinstate the loan.

The "Notice of Trustee's Sale" is given at a rather early stage in Idaho. It can be given any time after the "Notice of Default" is recorded. However, it must filed at least 120 days before the date the firm fixes for the date of the Trustee's Sale. The "Notice of Trustee's Sale" must be mailed to the proper parties by registered or certified mail. (It is particularly important in Idaho to provide the firm with all addresses you have for the grantor, his successor in interest, any subsequent lien holders, and any lessee or party in possession of the property.) If the property is occupied, the occupants must be personally served with a copy of the "Notice of Trustee's Sale". If the property is not occupied, a copy of the "Notice of Trustee's Sale" must be posted on the premises. In addition to the above, a copy of the "Notice of Trustee's Sale" must be published four times in a newspaper of general circulation in the county, once a week for four consecutive weeks. The last publication must be at least 20 days prior to the date of sale.

Affidavits of mailing of the notice of sale, publication of said notice and (if required) of posting of said notice must be filed of record at least 20 days prior to the date of sale.

The sale is held at a designated place in the county in which the property is located. It must be held between 9:00 a.m. and 4:00 p.m., Standard Time. Any person, including the beneficiary under the trust deed, may bid at the sale (The sale may be postponed up to 30 days by announcement at the time and place originally set for the sale.) The purchaser at the trustee's sale is entitled to possession on the tenth day following the sale. There is no statutory redemption period following a trustee's sale in Idaho.

Any deficiency action must be brought within 3 months after the sale and proof of fair market value must be made in connection with said action.

*No postponement may be more than 30 days.
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Important Notice
Kleinsmith & Associates, P.C. operates within Fannie Mae fee schedules and timelines and will provide the same coverage as a “FNMA Network Certified” law firm. Should any loss or damage occur as a result of a mistake by our firm during the foreclosure process, which we cannot rectify, Kleinsmith & Associates, P.C. will indemnify the servicer against any loss or damage.