Lundberg & Associates Auctions

Lundberg & Associates Auctions

Click here for a list of pending sales, dates and times

Salt Lake County Trustee Sales are held inside the rotunda at the South-East main entrance of the

Scott M. Matheson Courthouse 450 South State Street Salt Lake City, UT 84111

Bring change for metered parking or $2-5 to park under the courthouse off of 400 S between Main Street & State Street

Woodall & Wassermans auction
Click here for a list of pending sales, dates and times

Inside the rotunda at the South-East main entrance of the Scott M. Matheson Courthouse 450 South State Street Salt Lake City, UT 84111

Bring change for metered parking or $2-5 to park under the courthouse off of 400 S between Main Street & State Street

Scalley Reading
Click here for a list of pending sales from the office of Matheson & Howell, dates and times Inside the rotunda at the South-East main entrance of the Scott M. Matheson Courthouse 450 South State Street Salt Lake City, UT 84111 Bring change for metered parking or $2-5 to park under the courthouse off of 400 S between Main Street & State Street.
Halliday & Watkins

Halliday & Watkins

Click here for a list of pending sales, dates and times

Inside the rotunda at the South-East main entrance of the Scott M. Matheson Courthouse 450 South State Street Salt Lake City, UT 84111

Bring change for metered parking or $2-5 to park under the courthouse off of 400 S between Main Street & State Street

Where do the foreclosure sales take place?
Foreclosure sales are generally held at the active county courthouse of the county where the property in foreclosure is located. The location of the sale will be specified on the Notice of Trustee’s Sale, which will be published in a newspaper of general circulation in the county in which the property being foreclosed is located.
How does the basic foreclosure process work?
The foreclosure process is generally commenced when the borrower becomes delinquent. Delinquent status depends on the terms of the Note, the lender’s internal policies and the requirements of any investor. Generally, the foreclosure is commenced when a loan becomes three months delinquent. The foreclosure process generally begins by the holder of the Note appointing a trustee to file a Notice of Default with the county recorder of the county where the property is located. From the date of the filing of the notice of default, the borrower has 3 months to reinstate or payoff the loan. At the conclusion of the 3 month reinstatement period, if the loan has not been brought current, a foreclosure sale is set. A Notice of Trustee’s Sale is sent to the borrowers and posted on the property. It is also posted at the County Recorder’s Office of the county where the property is located and published in a newspaper having general circulation in the county. The actual foreclosure sale is held at the time and place specified on the Notice of Trustee’s Sale, generally an active county courthouse* of the county where the property is located. The trustee appointed by the note holder, or an attorney representing the trustee, conducts the foreclosure sale. *Some county courthouses are historical. Foreclosure sales are not held at these sites. The minimum bid on the property is set by the lender foreclosing and is made available by our office, once we have received it from the lender, on this web site under the heading of Foreclosure Bids and Sales Results. Generally our office receives bids the week of the sale. The attorney conducting the foreclosure sale will purchase the property on behalf of the lender, if no bid higher than the minimum bid is presented. If there is competitive bidding, the property is sold to the highest bidder. The successful bidder must deliver $5,000 in the form of a cashiers check, wire transfer or money order at the time of the sale to the trustee or attorney conducting the sale. The balance of the purchase price, in the same form, must be received in our office by noon the following day.
How do I make a bid on a property in foreclosure?
Bidding takes place at the time of the public auction. In order to bid, you must have $5,000 in the form of a cashier’s check, wire transfer or money order. Personal checks, trust checks and cash are not acceptable. The cashier’s check or money order should be made payable to Lundberg & Associates or endorsed in that manner. The lender foreclosing on the property determines the minimum bid. To check for minimum bid amounts, click on the icon for Foreclosure Bids and Sales Results located on this web site then click on this week’s sales and scroll down to the date of the foreclosure sale.
I am interested in purchasing foreclosure properties to earn extra income. Can you tell me how to get started?
You bet, our Principal Broker Darrell Catmull has 17 years experience in all facets of residential real estate and commercial leasing. Darrell can full explain some of the strategies he’s learned when bidding on the court house steps. Call Darrell at 801-262-9981 or email us throught the contact us form on this site.
What is the starting bid?
The starting bid is usually the lien holders principal balance. More often than not the foreclosure is being conducted by the first lien holder but occasionally a Junior lien holders attorney is foreclosing. Regardless of who the opening bid is usually the principle balance owed unless the property has a stigma, i.e., Meth, fire, vandalism.
How does a foreclosure sale work?
An attorney representing the trustee will conduct the sale at the time and place specified on the Notice of Trustee’s Sale. The bidding will begin at the minimum amount set by the lender. If no one bids that amount, the attorney will then sell the property to the lender foreclosing on the property for the minimum bid. If there are other interested parties, competitive bidding takes place. When the highest bid has been reached, the person who made that bid must give to the attorney a $5,000 cashier’s check, certified funds or money order. The non-refundable cashiers check, NOT bank check, is usually made out to yourself and the attorney uses a stamp to sign it over to them. Cash, bank, or personal checks are never accepted. Certified funds, cashiers check or wire transfer (no cash, bank, or personal checks) for the remainder of the purchase amount must be received in our office within 24 hours.
Can I purchase a foreclosure property before it goes to foreclosure sale?
Yes but it’s risky because you inherit junior lien holders and mechanics liens. If you intend on buying property free and clear make sure you use a good real estate broker who can explain the disadvantages and benefits clearly of buying a property from the owner while in foreclosure. See our short-sale section for other great ideas.
If I purchase a foreclosure property and it is still occupied, what do I do?
You will need to have the occupants evicted. You may choose to hire an attorney to complete the eviction on your behalf.  We recommend:

James H Deans

440 South 700 East Suite 101 Salt Lake City Utah (UT), 84102

Phone: (801)575-5005

Bruce E.  Wycoff

170 South Main Street Suite 1500 Salt Lake City Utah (UT), 84101

Phone: (801)521-3200 Fax: (801)328-0537

www.joneswaldo.com

Typical Utah Foreclosure Timeline

Last Payment made
Monday, July 4, 2016
Varies but typically three payment periods or 90 days but less than 120 days*
Notice of Default (NOD) filing
Wednesday, October 12, 2016
Copy delivered within 10 calendar days
NOD mailed/delivered
Saturday, October 15, 2016
Reinstatement period begins for 90 days
Reinstatement period ends
Friday, January 13, 2017
Trustee sale date scheduled at least 21 days later
Cure default amount and reinstate before
Sunday, January 29, 2017
days before trustee sale
Earliest Trustee Sale Date
Friday, February 3, 2017
Unless collaboratively postponed by lien holder because of Destiny Real Estate
Cash for Keys or legal eviction
Saturday, February 4, 2017
Lien holder or new owner could offer incentive or evict.
TOTAL DAYS
215
Foreclosure reported to Credit Bureau’s Sunday, March 1, 2017 Stays on for 7 years and could hinder future employment and insurance premiums.


Foreclosure
: Is a black-eye that will haunt. Utah is a default judgement state. The note holder may sell the automatic deficiency judgment to a debt-chasing attorney who can collect the difference from what they recoup and what the bank was owed. This is rarely done but with losses mounting hight it may become more common. It’s wiser to negotiate a short sale and get the deficiency waived.

Loan Modification is where the lender makes a determination that changing the terms of the loan is in the best interests of the note holder.  Government usually provides some sort of incentive but this isn’t the only reason the lender will permanantly change the terms of the loan.  They might lower the payment by reducing the interst rate, amortizing over 40 years vs. 30 years.  An interest rate reduction could be temporary or for the life of the loan.

Short-Sale: Is where the seller through their agent or broker who specializes in short-sales asks the bank to let them sell the house for less than what is owed for a win-win situation versus the stain of foreclosure.

Pre-Foreclosure: Is when the seller has equity they need to preserve but foreclosure is looming. A delicate situation where a full-time professional or specialist is essential.

Forebearance: Is a one-time solution to a temporary problem. If you fall behind you can, upon approval, defer the amount owed by attaching it to the end of the loan. The servicer will then give you a fresh start at the regullarly schedule payment.

STAYING IN THE HOME AFTER FORECLOSURE

THE FIVE STEPS

Eviction is an effecient legal process by which a landlord or owner can get you out of the house.

The first and most important thing you should know about eviction is that your landlord cannot,

  1. lock you out of your home,
  2. move you out of your home,
  3. or take any property from your home

before going through the five-part eviction process.

Another important thing you should know is that if you are evicted, the judge may order you to pay the landlord triple damages, meaning three times the accured rent prorated daily (after the expiration of the eviction notice) and property damage.

STEP 1: NOTICE

The first part of the eviction process occurs when the owner gives you a written notice to leave the premises.

THERE ARE FIVE TYPES OF EVICTION NOTICES IN UTAH

TYPES OF NOTICES

    1. Three-Day Alternative Notice for Non-Payment of Rent and/or Other Amounts Due
    2. Three-Day Notice to Vacate
    3. Three-day Notice to Comply or Quit
    4. Fifteen-Day “No Cause” Notice
    5. Five Day Notice to “Tenant-at-Will”

This notice can be used if you do not have any agreement with the landlord to live in the unit as a regular tenant. For example, if you took over someone’s apartment without the landlord’s agreement or if you stay after a lease expires, you did not make any arrangements to stay, and your rent payment was not accepted. This notice to a “tenant-at-will” must notify you to leave in five days. This notice may also be given to a tenant after a foreclosure, even if the “tenant” is the former owner. If a tenant is renting from an owner and the property is foreclosed, the new owner does not have to honor any prior rental agreements but may evict existing tenants with a tenant-at-will notice. (If a property is sold, however, the new owner must still honor prior agreements.)

HOW THE NOTICE IS SERVED ON YOU

There are four ways to give you an eviction notice:

      1. Hand it to you or have someone hand it to you (it does not have to be a Sheriff, police officer, or constable); or
      2. Send a copy by registered or certified mail to your home; or
      3. Leave a copy with someone of suitable age at your home or business AND mail a copy to your address (leaving a notice with a child who is not old enough to be responsible is not allowed); or
      4. Post a copy on your property (such a by taping it to the door) if you cannot be located and no one is at home.

STEP 2: LAWSUIT

If you do not comply with the notice you receive, the second step of the eviction process occurs. The landlord files a complaint and a summons with the court and has someone serve these papers on you.

You must reply in writing within the time stated on the summons (usually three BUSINESS days counting as the first day the day after you are served). Attached to the summons will be the complaint which explains the landlord’s side of the story. You or your attorney must file a paper with the court called an answer, or you will be evicted very quickly. If you don’t file your answer with the court on time, the judge will issue a default judgment in favor of your landlord, ordering the sheriff to move you out. If you file your answer and disagree with the complaint, the case will be decided later. You will have a chance to submit documents or testify before the judge decides the case. Your answer MUST be delivered to the court by the deadline; DO NOT MAIL your answer.

NOTICE OF POSSESSION BOND

If you are also served with another paper that indicates that your landlord has posted a plaintiff’s possession bond, the eviction process has been speeded up. You could get this notice at the same time you get the summons and complaint or anytime afterward. (Possession bonds are not used everywhere in Utah. And since changes were adopted in 2007, few eviction cases now include possession bonds.)

You must do one of the following WITHIN THREE BUSINESS DAYS after receiving this notice:

      1. If the eviction is for non-payment, pay all rent or utilities owing, late fees, attorney’s fees (if provided in your rental agreement) and court costs. You can then stay; or
      2. File a counterbond with the court. You must do the paperwork and ask a judge to set the amount of the counterbond, then pay it to the court. You can then stay and have a trial later;
      3. Demand a hearing with the court in writing. The court has a form to do this. The hearing will be held as soon as possible. At this hearing, the court can make a decision about all the issues or simply decide who has the right to possession of the unit. If instead of dealing with all the issues, the court wants to postpone dealing with some of them, but allows you to stay you may have to post a counterbond in order to stay in the unit pending the rest of the procedure.
      4. Move out. Money issues will still need to be decided later.

WARNING: YOU must properly respond to the Notice of Possession Bond, if you don’t, you will be evicted immediately.  Click here to use the Utah Court system

The law permits a landlord to ask for a hearing within 10 days if the landlord claims you didn’t pay the rent or other amounts due, or when the landlord claims that you or someone associated with you committed a criminal act on the premises.

STEP 3: TRIAL

If you file an Answer with the court on time and respond to the Notice of Possession Bond as explained in STEP 2 above, or the landlord alleges you didn’t pay the rent or you committed a criminal act on the premises, you will generally have a trial.

You and your landlord present witnesses and other evidence. These trials are like other non criminal cases. You have the right to a jury if you ask. However, the first hearing scheduled in eviction cases often deals only with the issue of possession (who has the right to possess the rental property). Often many such hearings are scheduled at the same time. In such cases, a judge will often only decide who has the right to be in the rental property, leaving all other issues to be decided later. If the judge believes you owe some rent, the judge will likely give you 3 days to leave the rented premises. The actual amount of rent due will not be decided until later.

STEP 4: JUDGMENT (Judge’s Decision)

This usually happens in court while you and the landlord are both there. Then the decision is put on paper and signed by the judge.

In most cases, if the landlord and tenant appear in court and the judge orders the tenant to vacate the premises by a certain time, no other proceedings will take place in the eviction action as long as the tenant moves out by the judge’s deadline. If the tenant does not move out, the landlord can get the judge to order immediate restitution of the premises meaning that as soon as the tenant is served with the order, the sheriff can forcibly evict the tenant even if the tenant’s possessions are still in the rental unit.

You will usually receive a copy of the judgment or order. If the landlord wins, the judge will order you to move out. If you don’t move out, the judge will order the sheriff to move you. The judgment will order you to pay damages so proceed with caution.

Remember, your landlord cannot legally lock you out of your unit or move you out of your unit until the landlord has a court order (Order of Restitution). Call the police or the sheriff if the landlord tries to take such actions without a court order.

APPEALS

You or your attorney can appeal a judgment within ten days after the judge signs it. You will have to pay a filing fee or sign an affidavit showing you can’t pay the fee. By itself, an appeal does not stop an eviction.

HOW TO FIGHT A DEFAULT JUDGMENT AGAINST YOU

It you fail to respond to the Summons and Complaint, or to the Notice of Possession Bond or other notice of a hearing, the court may issue a default judgment. If you want to have a default judgment undone, you must file a Motion to Set Aside and a Request for Hearing. You must have a legal reason to do so. This paper asks the judge to reopen the case. You can request the forms for these papers at Utah Legal Services. You will most likely have to file a bond (pay money into court) in order to set aside the default.

STEP 5: REMOVAL FROM THE HOME (Order of Restitution)

If you lose in court at Steps 2 or 4, you will be served with an order to vacate and remove your property – Order of Restitution – usually within three calendar days from the day the judge signs the judgment. In some cases, a judge can shorten this time so that you might be evicted immediately, as soon as the sheriff or constable comes to your rental unit with the Order.

A form to request a hearing will be attached. This is not an opportunity to fight the eviction, just to dispute the terms of the order or the way it was enforced. Requesting this hearing will not stop the order to vacate. To stop the order to vacate, go to the end of this section.

If you do not stop this order, and you do not vacate and remove your property, the sheriff or constable can enter the premises to remove you. They will make a list of what possessions you have left and put those possessions in storage. You will have thirty days to request a hearing or reclaim your property by paying for the moving costs and storage fees. If somebody else owns any of the property that is in storage, that person has thirty days to prove that he or she owns it and ask the landlord in writing to return it, or request a hearing.

If you do not claim your property or request a hearing within thirty days, your property will be sold or possibly donated to charity. They will send you notice of the sale at your last known address. If you are present at the sale, you can say in what order your property should be sold. They can sell only what is necessary to cover the costs of removal, storage, and the sale, and should release the rest of your property to you.

If you are not present, your property will be sold to pay for costs and for what the court decided you owe the landlord. If any money is left, they will send it to you if they know where to find you.

HOW TO CHALLENGE AN ORDER OF RESTITUTION (ORDER TO VACATE)

If you want to stay in your unit and you lost in court, you will have to file a Motion to Set Aside Judgment (as explained at the bottom of Step 4) a Motion to Stay, AND a Request for Hearing. These papers ask the judge to stop the eviction and reopen the case.

NOTE: IF YOU FILE A MOTION TO STAY, YOU WILL HAVE TO DEPOSIT SOME MONEY WITH THE COURT.

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