Idaho Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Study for the Idaho Real Estate Exam. Utilize flashcards and multiple-choice questions, each with hints and explanations. Prepare for your success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

A borrower has a foreclosure started on their Deed of Trust. How long is the reinstatement period?

60 days
90 days
120 days
Up to the 115th day

The correct answer is: Up to the 115th day

The reinstatement period for a foreclosure on a Deed of Trust in Idaho allows the borrower to reclaim the property by paying off the overdue amounts before the foreclosure sale occurs. In Idaho, this period is set to run until up to the 115th day after the notice of default has been recorded. This provision is meant to provide borrowers with a chance to remedy the default and retain their property, promoting the potential for homeowners to resolve their financial issues and avoid losing their home through foreclosure. Other choices, while they represent various timeframes, do not accurately reflect the specific statutory period recognized in Idaho law related to the reinstatement of a Deed of Trust. Understanding this timeline is essential for both borrowers and real estate professionals to navigate the foreclosure process effectively.