BANKRUPTCY LAW IN UTAH: KEEP YOUR HOME AND PRESERVE YOUR HOME EQUITY
Under Utah law, a home lender holding a Deed of Trust recorded against a Debtor's home can complete foreclosure proceedings within about 60 days after submitting proper notice. The filing of a Chapter 13 case stops a foreclosure sale immediately upon filing. This is true even if a Debtor files a Chapter 13 bankruptcy one hour before a foreclosure sale. The Debtor will then proceed to formulate a plan to re-pay their Creditors and catch up on all delinquent payments on the home to save the home.
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