If you’re in danger of losing your home to a foreclosure in Wyoming, there are certain things you should know about the process. For example, you should know how much notice you'll get before the foreclosure sale, whether you’re able to reinstate the mortgage by catching up on past-due payments before the sale, whether you could be liable for a deficiency, and more.
Read on to find a summary of some of the key points of Wyoming’s foreclosure laws along with citations to the statutes so you can read the law yourself.
The citations to Wyoming’s foreclosure statutes are:
You can find the statutes on the Wyoming state legislature’s website at http://legisweb.state.wy.us/titles/statutes.htm. If you need help finding the statutes, see Finding Your State’s Foreclosure Laws.
We’ve summarized important parts of Wyoming’s foreclosure laws below. You can find more detailed articles on various aspects of Wyoming foreclosure law in Nolo’s Wyoming Foreclosure Law Center.
Wyoming foreclosures are typically nonjudicial, which means the foreclosure takes place outside of court. They can also be judicial, which means the lender files a lawsuit in state court in order to foreclose the house. Since most foreclosures in Wyoming are nonjudicial, this article focuses on that process.
In order to foreclose a home in Wyoming, the foreclosing party must publish a notice of sale in a newspaper once a week for four consecutive weeks before the sale. Wyo. Stat. Ann. § 34-4-104. At least ten days before the first publication of the notice of sale, the foreclosing party must send you (the homeowner) a notice of intent to foreclose by certified mail. Wyo. Stat. Ann. § 34-4-103.
Also, prior to first date of publication, the foreclosing lender must send a copy of the notice of sale to you (and various other parties) by certified mail. Wyo. Stat. Ann. § 34-4-104.
Wyoming law extends the legal protections provided under the federal Servicemembers Civil Relief Act to members of the Wyoming national guard who are ordered to active state service by the state or federal government for a period of more than 30 consecutive days. Wyo. Stat. Ann. § 19-11-122. (Learn more about the Servicemembers Civil Relief Act.)
“Reinstating” is when you catch up on your missed payments (plus fees and costs) in order to stop a foreclosure. (Learn more about reinstatement to avoid foreclosure.)
Wyoming law does not give you the right to reinstate the mortgage before the sale. However, even though state law does not provide you with a legal right to reinstate, your lender may allow you to pay the money you owe to bring your account current or the terms of your mortgage contract may give you the right to reinstate before the sale.
In some states, you can redeem (repurchase) your home within a certain period of time after the foreclosure. Foreclosed homeowners in Wyoming can redeem the home within:
When the total mortgage debt exceeds the foreclosure sale price, the difference is called a “deficiency.” Some states allow the lender to seek a personal judgment (called a “deficiency judgment”) against the borrower for this amount, while other states prohibit deficiency judgments with what are called anti-deficiency laws.
There is no anti-deficiency law in Wyoming, which means the lender can recover the deficiency following the foreclosure. Wyo. Stat. Ann. § 34-4-113 and § 1-18-113. (For more information on deficiency law in Wyoming, see Wyoming Laws on Post-Foreclosure Deficiency.)
Under Wyoming law, you get the right to live in the home until the redemption period expires. If you don’t move out at that time, the purchaser can give notice to quit and then evict you.