Archives for August 2011

11885 Harvest Moon Highland UT

SOLD– Asking 389,900

Property Details

Listing Price: 389,900
Address: 11885 Harvest Moon
City: Highland
State: Ut
ZIP: 84003
MLS # (if any): 1049619
Square Feet: 4444
Bedrooms: 4
Bathrooms: 2
Basement (full, 1/2, finished, unfinished): Unfinished walkout basement, 9 foot ceilings

Incredible rambler in north east Highland Beacon Hills sub. Some of the features include huge great room, open floor plan, granite counters, stainless appliances, knotty alder cabinets w/glaze, 3 tone paint w/glaze, natural stone fireplace, crown molding, 9ft basement ceilings, *walk out basement, fully fenced and landscaped yard, landscape lights, trampoline, kid play area, sand box, RV pad, 4 car garage (2car tandem), must see pics. Amazing home!Priced to sell!

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How long does a bank have to pursue a deficiency judgment after a foreclosure in Utah

A question people always ask is ” Is Utah a deficiency state?” The answer is yes. Another common question “How long does a bank have to pursue a deficiency judgment after a foreclosure in the state of Utah?” This is question has a very interesting answer. I am not an attorney, but I talked with an attorney today who specializes in mortgage law and foreclosure law and he said that if a first mortgage forecloses they only have 3 months to take action and pursue a deficiency judgment in Utah. The 3 months begins the day the trustee sale takes place and is limited to the lender who takes the foreclosure action. So if there is a second or third mortgage lien that is wiped out by the foreclosure action of the first mortgage, they can still collect up to 6 years (may be less ask attorney about specific situation), or sue for a deficiency judgment for up to 6 years, but the foreclosing lender only has 3 months. First they must establish the deficiency amount by determining the fair market value of the property through on appraisal on the day of the sale and then sue, win and receive the judgment for the deficiency.  I found a couple of links that support what he told me in the Utah code and posted them below. (OK he told me where to look 😉

http://le.utah.gov/~code/TITLE57/htm/57_01_003200.htm

http://le.utah.gov/~code/TITLE57/htm/57_01_003400.htm

If you live in Utah County or Salt Lake County and would like to know what you options are to stop foreclosure and settle your mortgage debt please contact me.

Remember- Do NOT rely on this information regarding your specific situation. Please call an attorney or me for a reference.

The top 3 mistakes sellers make when short selling their house in Utah

 

Short sell your house.