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1. What is a cure amount?

A cure amount is the amount necessary to bring a foreclosed loan current. The Public Trustee's foreclosure files only contain cure figures when an Intent to Cure has been filed and the figures have been received from the foreclosing attorney.

2. Who can file an Intent to Cure?

The only parties legally allowed to file an Intent to Cure include but are not limited to property owners, persons liable, grantor of evidence of debt and junior lien holders. An Intent to Cure must be filed at least fifteen days prior to the scheduled date of the Public Trustee sale.

3. What is a Redemption Amount?

A redemption amount is the amount necessary to pay off the Deed of Trust in default. The Public Trustee's foreclosure files do not contain these figures unless an Intent to Redeem has been filed. The figures are requested and received from the foreclosing attorney for the lender or the over-bidder at the time of the sale.

4. Who can file an Intent to Redeem?

The only parties legally allowed to file and Intent to Redeem are junior lien holders as defined in 38-38-100.3 (11). Please consult your legal advisor for advice on any lien you may have.

5. How does Bankruptcy affect a foreclosure?

When a bankruptcy is filed, the bankruptcy court will issue a court order that prevents any creditor from attempting to collect any debt from the person who declared bankruptcy. Creditors, even though they are owed money, may not undertake foreclosure, repossession, eviction or seizure. A bankruptcy filing by the owner of the property stops the foreclosure sale until one of the following occurs:
The automatic stay is lifted.
The bankruptcy court abandons the property.
The bankruptcy case is dismissed or closed.