Wyoming foreclosure laws: how the process works and how long it takes

• Wyo. Stat. § 34-4-101 et seq.: Primary framework for non-judicial foreclosure by advertisement and sale of mortgages and deeds of trust with a power of sale in Wyoming. Establishes requirements for the power of sale clause, Notice of Sale (publication, mailing), trustee's sale procedures, and deed conveyance.
• Wyo. Stat. § 34-4-104: Governs the non-judicial foreclosure process for mortgages and deeds of trust with a power of sale. Requires publication of Notice of Sale once a week for 4 consecutive weeks in a newspaper published in the county where the property is located. Sale must be at the front door of the courthouse or the place where district court is held in the county (Wyo. Stat. § 34-4-106).
• Wyo. Stat. §§ 1-18-102, 1-18-110: At a foreclosure sale, the buyer gets a certificate of purchase instead of a deed. If the property is not redeemed, the buyer is entitled to a deed, which conveys the borrower's title to the purchaser.
• Wyo. Stat. § 1-18-101 et seq.: Framework for foreclosure sales of mortgages and deeds of trust, both judicial and by advertisement and sale. Provides for a 3-month post-sale redemption period, or 12 months for agricultural real estate (Wyo. Stat. § 1-18-103). Deficiency judgments are allowed.
• Wyo. Stat. § 1-18-103: Establishes a 3-month post-sale redemption period after both judicial foreclosure and foreclosure by advertisement and sale (12 months for agricultural real estate). The borrower may redeem the property by paying the sale price plus 10% yearly interest, plus any taxes, assessments, and prior liens the buyer paid after the sale.
• Wyo. Stat. § 34-4-113(c): Allows deficiency judgments after foreclosure: the mortgagor is liable for any deficiency. The lender may seek a deficiency judgment for the difference between the sale price and the outstanding debt.
• Wyo. Stat. § 1-20-101: Establishes a $100,000 homestead exemption for Wyoming residents. Protects up to that amount in value of the homeowner's primary residence from forced sale by judgment creditors. Does NOT protect against mortgage or deed of trust foreclosure.
• Wyo. Stat. § 34-4-102: Allows any mortgage of real estate that contains a power of sale to be foreclosed by advertisement (non-judicial foreclosure), within the time limits the section sets.

After a foreclosure sale, the former owner is entitled to keep possession for 3 months (12 months for agricultural property); after that, the purchaser is entitled to possession unless the property is redeemed. If the former owner does not leave, the purchaser must serve a written notice to leave at least 3 days before filing an eviction (forcible entry and detainer) action, and a court judgment leads to a writ of restitution. The federal Protecting Tenants at Foreclosure Act provides 90-day notice to bona fide tenants.

Surplus proceeds from the trustee's sale (above the debt and costs) belong to the former owner or junior lienholders in priority order.

Generally first in time, first in right. Wyoming recording statutes govern lien priority. Property tax liens have priority over all other liens including first mortgages. County tax foreclosure is available.

Foreclosure by advertisement must begin within 10 years after the mortgage or the debt it secures matures; if the mortgage does not clearly state the maturity date, the 10 years run from the date of the mortgage (Wyo. Stat. § 34-4-102). A court action on a written contract must be brought within 10 years (Wyo. Stat. § 1-3-105). Applies to a note payable at a definite time: suit must be filed within 6 years after the due date, or after the accelerated due date if the loan was accelerated. Deficiency judgments are allowed in Wyoming: after the sale, the mortgagor is liable for any deficiency (Wyo. Stat. § 34-4-113(c)). A suit to enforce a note payable at a definite time must be filed within six years after the note's due date, or its accelerated due date (Wyo. Stat. § 34.1-3-118(a)). Consult a local attorney.

Wyoming's foreclosure statute gives no general right to reinstate a mortgage, so whether an executor or personal representative can reinstate the loan depends on the mortgage terms.

• Unpaid property taxes: Property tax liens have priority over mortgage liens in Wyoming. Counties may sell tax-delinquent property. The property owner has a redemption period before a tax deed is issued. Contact the county treasurer for specific procedures and timelines.

$100,000. Protects up to $100,000 in value of your primary residence from judgment creditors. Does not stop mortgage or deed of trust foreclosure. Wyoming's homestead exemption is $100,000, and when two or more people jointly own and occupy the same home, each is entitled to the exemption. The exemption does not protect against your mortgage lender foreclosing: a homestead can be mortgaged when the mortgage includes a waiver of the homestead exemption and is signed and acknowledged by the owner and the owner's spouse. Combined with no anti-deficiency protection, Wyoming borrowers face significant financial risk in foreclosure.

If you are a Wyoming National Guard member ordered to active state service by the state or federal government for more than 30 consecutive days, Wyoming law extends SCRA protections to you. Under the federal SCRA, a mortgage taken out before active duty generally can't be foreclosed without a court order during active duty and for 12 months after it ends, and the interest rate on such a mortgage can be reduced to 6% during active duty and for one year after. Wyoming has F.E. Warren Air Force Base in Cheyenne. Military families should contact their installation legal assistance office immediately if facing foreclosure.

Wyoming's lack of state income tax reduces the post-foreclosure tax burden somewhat. A deficiency the lender still collects and federal tax on debt the lender cancels are separate issues: tax applies only to the amount actually canceled, and exclusions such as insolvency may apply.