What are my rights as a homeowner facing foreclosure?

As a homeowner facing foreclosure in Utah, you have certain rights. Before the foreclosure process begins, you have the right to receive a notice of default from the bank or lender. This letter will inform you of the amount of debt you owe and the terms of the foreclosure. Once you receive the notice of default, you have the right to reinstate the loan by paying the amount owed, plus any fees and costs associated with the foreclosure. You also have the right to negotiate a loan modification with your lender. Under this option, you would agree to a new payment plan with terms that are more advantageous to you. If you choose to contest the foreclosure, you have the right to defend yourself in court. You may also have the right to work with an attorney and have the case heard before a judge. In court, you will have the opportunity to present evidence that supports your case. Under Utah foreclosure law, you also have the right to redeem the property after the foreclosure is complete. This means that you can repurchase the property at its current market value during a period of time set forth by state law. Finally, you have the right to receive a notice of completion from the foreclosing lender. This document will inform you of the date on which the title to the property transfers to the lender.

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What are my rights as a homeowner facing foreclosure?

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