Wyoming Foreclosure Laws

Wyoming foreclosure laws permit both judicial and non-judicial foreclosure proceedings, although most foreclosures in the state are non-judicial or out-of-court. The process of foreclosure in Wyoming generally takes two months. There is also a three month redemption period allowed after the public auction.

Initiating a Foreclosure in Wyoming

If a mortgage or deed of trust has no power of sale clause, a judicial foreclosure is usually the best option. In this type of foreclosure, the court system administers the foreclosure. The court must decide whether default has occurred and whether a foreclosure should be declared. If the court decides on foreclosure, the property can be sold through a foreclosure auction. If a mortgage or deed of trust has a power of sale clause, the lender can seek foreclosure without court help. In both a judicial and non-judicial foreclosure, the lender must send the debtor a written notice declaring the intention to foreclose. This notice must be sent at least ten days before the first notice of sale is published.

The Foreclosure Auction in Wyoming

Before the public auction can take place, the notice of sale must be published. This notice must be published a minimum of once a week for four successive weeks in a local newspaper.

Wyoming foreclosure sales are public auctions and are held on the courthouse steps between 9 a.m. and 5 p.m. The county sheriff usually appoints someone to conduct the sale. The winning bidder is granted ownership of the property. There is a three month redemption period after the auction. If the debtor does not repay the full amount of the winning bid plus interest of 10% and additional charges such as taxes, the winning bidder gains possession of the property.