For homeowners facing foreclosure in Wyoming, the following is a summary of the state’s foreclosure laws:
Foreclosures in Wyoming can be judicial, meaning the bank must file a lawsuit in court in order to foreclose.
Foreclosures in Wyoming can also be nonjudicial but a court must confirm the sale.
Wyoming law requires two foreclosure notices:
- In Wyoming, to foreclose a home, the bank publish a notice of sale in a newspaper once a week for four consecutive weeks before the foreclosure sale. At least ten days before the first publication of the notice of sale, the bank will send the homeowner a notice of intent to foreclose by certified mail.
- Prior to first date of publication, the bank will send a copy of the notice of sale to the homeowner and various other parties by certified mail.
Wyoming Foreclosure Protections
Wyoming law provides protections in accordance with the federal Service Members Civil Relief Act.
Wyoming law also provides protections to members of the Wyoming National Guard who are ordered to active state service by the state or federal government for a period of more than 30 consecutive days.
Reinstatement and Redemption
In Wyoming, homeowners are not allowed to reinstate the mortgage before the foreclosure sale. However, even though state law does not provide homeowners with a legal right to reinstate, the bank may allow the homeowner to pay the outstanding debt to bring the mortgage account current or the terms of the mortgage contract may give allow the homeowner to reinstate before the foreclosure sale.
Foreclosed homeowners in Wyoming can redeem the home within three months from the sale date, or 12 months from the sale date, if the property is agricultural.
In Wyoming, there is no anti-deficiency law, meaning the bank can recover the deficiency following the foreclosure sale.
Under Wyoming law, homeowners have the right to live in the home until the redemption period ends. If a homeowner leave the home does not following the end of the redemption period, the buyer can send a notice to leave and initiate the eviction process. For information regarding how to avoid foreclosure in Wyoming, visit HUD.gov.