Non-Judicial Foreclosures

If you live in Alaska and you’ve had trouble making payments on your mortgage, you may be wondering if foreclosure is in your future. You may also be frustrated and overwhelmed with the complexities of the financial system, and the legal hoops you have to jump through. At the Law Office of Justin S. Eppler, we understand. You are not alone in your struggle, as many Alaskans face these issues. Before making any major decisions, it’s important to review some of the basics of foreclosure so you can move forward with confidence. 

Judicial Foreclosures & Non-Judicial Foreclosures

If a foreclosure is “non-judicial” it means that the foreclosure process takes place outside of the court system, with a third party called a "trustee.” Although a judicial foreclosure is possible, the majority of foreclosures in Alaska are non-judicial and handled by a trustee.

The Foreclosure Process in Alaska

At the Law Office of Justin S. Eppler, my team and I can help you understand how the non-judicial foreclosure process works, especially as the process varies state by state. In Alaska, these are the steps you’ll typically find:  

  1. Notice of Default - The trustee begins the process by recording a document called a ‘’notice of default’ at least 30 days after the borrower defaults, and at least 90 days before the date of the proposed foreclosure sale. The trustee then delivers a copy of the notice of default to the borrower, either by mail or in person.   
  2. Publish Notice of Intent to Foreclose - The holder of your mortgage must publish notice of the foreclosure sale in a newspaper for four weeks, and on a website at least 45 days before the scheduled foreclosure.
  3. Foreclosure Sale - The sale of the foreclosed property takes place in front of the courthouse in the county where the property is located.
  4. Deed of Foreclosure - This is signed to the winning bidder, who becomes the new owner of the property.

You may be unsure of your next steps if you have received a notice of default. That’s why it’s so important to reach out to an experienced attorney to discuss your case, review your options, and create a strategy moving forward.

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Options When Faced With a Foreclosure

As a citizen in Alaska, you have certain rights and responsibilities in a foreclosure. You may be wondering: can I keep my house? Can I pay back my loan? Here are a few points to consider when encountering the non-judicial foreclosure process: 

Can I Reinstate the Loan?

In a nonjudicial foreclosure, Alaska law permits you to reinstate (get current on) a defaulted loan at any time before the sale date. But if you previously reinstated a defaulted loan two or more times, the trustee can refuse to accept another reinstatement.

Can I Get My Home Back After the Sale?

Some states have passed a law that allows you to get your home back after a foreclosure sale by reimbursing the new owner for the full amount paid. This process is known as "redeeming" the property. In a non-judicial foreclosure in Alaska, however, you don’t get the opportunity to redeem the home following the sale unless the deed of trust (the contract) specifically gives the borrower the right of redemption. Most deeds of trust in Alaska don’t provide this right.

Can I Seek Outside Help? 

Absolutely. Use the resources at your disposal. At the Law Office of Justin S. Eppler, LLC, we work with community members faced with the prospect of foreclosure to help ensure their stories are heard and their rights upheld.

Hiring a Foreclosures Attorney

It’s a good idea to reach out as soon as you know you need help. By contacting a trusted law firm, you are placing knowledge and experience in your corner. The sooner you reach out, the sooner our team at the Law Office of Justin S. Eppler can gather our resources to best serve the needs of your unique situation.

Non-Judicial Foreclosures Attorney Serving Anchorage, Alaska

Don’t face foreclosure alone. At the Law Office of Justin S. Eppler, LLC, our team strives to provide the guidance you need to weather this storm. Your future is too important to risk. Call for a consultation and let us help you stand on solid ground again. If you live in Fairbanks, Juneau, Wasilla, Palmer, Soldotna, or Kenai, reach out to our office in Anchorage, Alaska for skilled, compassionate service.