Here is a summary of foreclosure laws and rules for the State of Alaska:
- Both judicial and non-judicial foreclosure is available, but the non-judicial deed of trust sale is preferred.
- Any time before the sale, the borrower may make up the missed payments plus costs and stop the sale.
- Redemption is allowed after a non-judicial foreclosure but not after a judicial foreclosure.
- The lender can collect a deficiency after judicial foreclosure, but not on a non-judicial foreclosure.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Alaska those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
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