Foreclosure is the legal process effected through the court system in which a mortgagee (lender—often a bank) terminates a mortgagor’s (borrower’s) interest in the real property in which the mortgagor gave the mortgagee a security interest (a lien) as collateral for the loan used to purchase the property.

Foreclosure generally occurs when a homeowner defaults and fails to make mortgage payments as required by the loan agreement (promissory note).

Foreclosure allows the lender to seize the property, remove the homeowner, and sell the home—all of which are legal remedies the mortgagor and mortgagee agreed to in the mortgage contract.

In Idaho, foreclosure is a legal process that allows a lender to terminate a borrower's interest in a property due to the borrower's failure to make the required mortgage payments. Idaho permits both judicial and non-judicial foreclosures. In a judicial foreclosure, the lender must file a lawsuit and obtain a court order to foreclose on the property. This process involves the court system and can take a significant amount of time. Non-judicial foreclosure, on the other hand, does not require court intervention if the mortgage contains a power of sale clause. This clause allows the lender to sell the property without court oversight after providing the borrower with the required notice of default and intent to sell. Regardless of the method, the foreclosure process in Idaho requires the lender to provide the borrower with proper notice and an opportunity to cure the default, if possible, before proceeding with the foreclosure sale. The specific procedures and timelines for foreclosure are governed by Idaho state statutes, and homeowners facing foreclosure may benefit from consulting with an attorney to explore their legal options.