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State Foreclosure Laws and Process

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Alaska

Foreclosure Posting Requirements

The Notice of Default (NOD), must be mailed by certified mail to the trustor and his successors, anyone in possession, and the junior lien holders. The Notice must also be posted on the property and the property visually inspected for evidence of recent construction activities. If any such evidence is seen, an attempt must be made to give notice of the foreclosure to those performing the work. Notice of the sale must be posted in three public places within 5 miles of the location of the sale and at least 30 days prior to the sale. One of the places must be in the U.S. Post Office located nearest to where the sale will be held. Notice of the sale must also be published once a week for four consecutive weeks, in a newspaper of general circulation published nearest to the place of sale.

In addition to the notice required by by law, a notice of the sale of real property on execution shall be given by publishing a notice of the sale on a qualified* Internet website beginning at least 45 days before the date of the sale.

*Please refer to AS 09.35.140 - Section 2, as amended by Alaska 26th legislature HB 108 for Internet website qualification to publish notices of sale. Link to amendment at the end of this section

Foreclosure Auction Locations

Most states direct the specific location where a sheriff, trustee or creditor may conduct a foreclosure sale. Often the direction is as vague as “any public place within the county in which the property is located.” Other times, the statute requires that a foreclosure sale only be held at the site of the property to be foreclosed. Foreclosure sales can be conducted at public auction held at the front door of a courthouse of the superior court in the judicial district where the property is located, unless the deed of trust specifically provides that the sale shall be held in a different place.

Foreclosure Timeline

Timeline Step	Days for Step	Total Days
Loan referred/file received	1	1
Trustee Sale Guarantee report ordered	1	1
Trustee Sale Guarantee report received and reviewed	5-6	6-7
Beneficiary’s Declaration and Substitution of Trustee prepared, and sent to client for execution	1	7-8
Sale date set: Notice of Default sent to record (after return of executed documents by client)	1	8-9
NOD recorded	2-4	10-13
Publication/posting of sale completed	65	75-78
Sale held	30	105-108
Deed recorded	3	108-111

(Timeline is for non-judicial foreclosures. Intervals are optimal and assumes no delays.)

State Statutes

Alaska Foreclosure Statutes

Alaska Notice of Sale Amendments (HB 108)