statute of limitations

Hi Davies,

Time period for foreclosing on mortgage on real property in Idaho as per the statute of limitations is within five years from the date of maturity of the secured obligation and if there is no maturity date mentioned then it is counted as five years from the buildup of the cause for the action which gives rise to the right of foreclosure.

Thanks
Colin

Let me add that if the mortgagee does not mention the maturity date in the mortgage then the mortgage becomes unenforceable in five years time even if the secured promissory note may have quiet a few years left in its term.

Westwood

Hi Davies,

In Idaho, foreclosure action is taken within 5 years of the date of loan default. There is no requirement that the foreclosure should take place immediately after the default.

Thanks,

Sara.