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Foreclosure Survival Guide
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Foreclosure Survival Guide (1st Edition)
| Topic | State Rule |
|---|---|
| Common type of foreclosure process | Nonjudicial: under a power of sale in a deed of trust |
| Time to respond | Not less than 30 days after default and not less than three months before sale |
| Reinstatement of loan before sale | Allowed any time before sale, but lender can refuse if this is third notice of default and sale |
| Redemption after sale | Nonjudicial: no right of redemption |
| Special protections for foreclosures involving high-cost mortgages | None |
| Special state protections for service members | Alaska Stat. § 26.05.135 |
| Deficiency judgments | Not allowed in nonjudicial foreclosures |
| Cash exempted in bankruptcy | $1,750 for one person, $3,500 for a married couple |
| Notice to leave after house is sold | New owner must give former owner a notice to quit (leave); new owner may bring special civil lawsuit to gain possession. Alaska Stat. § 09.45.630 |
| Foreclosure statutes | Alaska Stat. § 34.20.070 |