Foreclosure

Does Amending a Recorded Notice of Lien Reset the Deadline to Foreclose on a Construction Lien in Utah?

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com To preserve a lien claim, a lien claimant must, among other things, record a notice of construction lien with the county recorder’s office, and within 180 days thereafter, initiate a lawsuit to foreclose on that lien. But what happens if, within that 180-day period, the lien claimant files an amended notice of …

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Timelines (and the Statute of Limitations) for Foreclosing on a Trust Deed in Utah

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com In Utah, trust deeds are often used to secure loans, ranging from loans for homebuyers to loans for general contractors used to finance real estate developments. The real property identified in the trust deed acts as collateral. If the debtor fails to pay, the lender can sell the property in a foreclosure …

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Bankruptcy Updates

September 14, 2011A survey recently released by the Institute for Financial Literacy bankruptcies filed by consumers with college degrees were up 20% and bankruptcies filed by consumers earning over $60,000.00 increased by over 66%. According to Leslie E. Linfield, executive director and founder of the South Portland, Maine-based Institute for Financial Literacy, “The Great Recession …

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