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Alaska Foreclosure Laws

Judicial Yes
Non-Judicial Yes
Process Period 105 Days
Sale Publication 65 Days
Redemption Period 365 Days
Sale / NTS Trustee

Judicial Foreclosures: In Alaska judicial foreclosure are used as a last alternative. With in-court foreclosures the borrower does not need to be in default for 30 days. A notice of pending law suit and a complaint are to be filed in court and then delivered to the borrower. If there is no response from the borrower within 20 days of the complaint being delivered, the court can rule the borrower in default and have the property sold.

Non-Judicial Foreclosures: If a borrower defaults, most deeds of trust contain provisions allowing lenders to sell a property. An out of court foreclosure can only take place after the borrower has been in default for 30 days or more. A notice must be sent to all affected parties and include all of the following; the deed of trust information, a description of the property, the debt owed, and the date, time and location of sale. The borrower can resolve this issue before the sale by paying the default amount along with related expenses.

Sale: In the case of judicial and non-judicial foreclosures the notice of sale must be posted in three public locations at least 30 days prior to the sale date. One of the public locations must be the nearest U.S. post office. The notice must also be published in the newspaper once a week for four weeks. In a court foreclosure sale the borrowers have 12 months after the sale confirmation to redeem the property. The borrower must pay the amount of sale price plus 8 percent interest.

Additional Information on Alaska Foreclosure