Walk It Through: Behind On The House
A notice of default, 115 days to cure, the tax bill, a contractor's lien, and what a judgment cannot reach.
After a job loss, a homeowner falls behind and a notice of default is recorded.
Two things a person in this spot might do. Picking one shows what the law says about it.
One household under pressure. Loan modifications, bankruptcy, deficiency judgments, the tax deferral program and the sale of a lien are not worked through here.
A practice walkthrough, not a prediction of how any real one will go. Legal information, not legal advice.
Words this turns on
Terms with a legal meaning that is narrower than the everyday one. Each links to the definition and the authority behind it.
- Lien for workA claim on real property for work or materials, filed within ninety days after the work, which binds the property no longer than six months unless a suit to enforce it is started.
- Tax deedThe deed to the county the tax collector makes when delinquent real property is not redeemed within three years, after notice. The owner may still redeem for fourteen months unless the county sells sooner.
- Notice of defaultThe recorded notice that starts a trustee's foreclosure, from which the homeowner has 115 days to cure by paying what is then due with costs and fees.
- Trust deedThe security instrument on most Idaho homes, which a trustee may foreclose by a sale outside court after recording a notice of default and mailing notice of the sale at least 120 days ahead.
- Exempt propertyProperty a judgment creditor cannot take, such as household goods up to $1,000 an item and $7,500 in all, tools of the trade up to $10,000 and one motor vehicle up to $10,000.
- GarnishmentTaking part of a person's pay to satisfy a debt, limited to 25% of a week's disposable earnings or the excess over thirty times the federal minimum hourly wage, whichever is less.
- HomesteadA home occupied as the owner's principal residence, protected automatically against creditors up to $175,000.
- MaintenanceSupport a court may order for a spouse who lacks enough property for reasonable needs and cannot support themselves through work, in an amount and for a time the court finds just.
- Wrongful deathA death caused by the wrongful act or neglect of another, for which the heirs or the personal representative may sue within two years.