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foreclosure: Idaho: Get Help from "The Law" in Idaho for a host of issues, including Foreclosure - 12/29/09 12:28 PM
Go to the Office of the Attorney General's site for help on issues such as Foreclosure, Mortgage Modification, etc.--there are links all over the page and the entire site that might help. Check the tabs on the left, including the ones marked Consumer Protection, Idaho Statutes (and there are some doozies involving housing), and even that ever elusive Concealed Weapons info tab. (What? You can have a concealed weapon in Idaho? Hmmm...)
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foreclosure: Fiction or Non- Accounting Fraud is a Felony? What Does This Have to do with Homes In Foreclosure? - 09/29/09 10:32 AM
Fantastic article by Karl Denninger on Market Ticker shows how distressed homes are the "visible side of accounting fraud," and calls for stopping "the looting, and start prosecuting."
"Mark to Myth Losers: Americans" pulls back the curtain on the Wizard of Banking-Oz, defines terms, and points out many of the slimy realities behind the question for so many Short Sales: "What is taking so long for the bank to decide?"
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foreclosure: Boise Area Real Estate / Ada County Market Report for March 2009 (as of April 19) - 04/19/09 10:23 AM
Below is a market report grid for Ada County. Below that is the February + January grid, I've left on here for ease of comparison. Data pulled from Intermountain MLS. If you would like additional information on a specific city within the county, please write Bev@AccentIdaho.com and I'll gladly oblige.
As yet, IMLS does not break out the foreclosure/short sale/REO data in their monthly/quarterly reports, but perhaps that is coming soon; our local listings just began utilizing these classifications for ease of searching. Boise and Meridian both are great examples of areas so large that they are broken into several pieces, … (0 comments)
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foreclosure: Sometimes Forgotten/Somewhat Obscure: Non-Judicial Foreclosure Info from Foreclosure and Short Sale Class - 03/26/09 10:47 PM
*Here are a number of little known or remembered facts, primarily from Idaho code, on foreclosures in Idaho. I picked these up yesterday in a CE class, and will throw out the disclaimer that I am not an expert in these (or any) matters of law; I'm a real estate broker who took notes in a class yesterday. If you have questions, by all means consult a real estate attorney. And, if you already know this, share! :)
Taxes are a lien. If the previous year(s) taxes have not been paid, the "buyer" has to pay them up current in order … (2 comments)
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foreclosure: Timeline Info from Yesterday's Foreclosure and Short Sale Class - 03/26/09 08:57 PM
We concentrated on timelines and trends. For example, two years ago, the number of days a borrower could be delinquent on his/her payments was 180 days. Now, the trend is more like, 7, 8, even 9 months.
IAt first in a non-judicial foreclosure, which is what you generally have with deeds of trust, the Notice of Default is recorded; this starts the clock or timeline. From here, at least 120 days before the sale date the Notice of Sale much be mailed by certified or registered mail to various parties--several, but in particular, the grantors/Trustors named in the deed of trust. Then, at … (0 comments)
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foreclosure: February 2009 RealtyTrac Foreclosure Stats Rank Idaho... - 03/25/09 11:28 PM
--all of the way up there at number 5. This is slightly over a 139% increase from 12 months ago, and we all know that anymore, 2 months is huge in this market. Florida was ranked at number 4, California - 3, Arizona - 2, and Nevada was number 1.
Just attended Alliance Title's Foreclosure and Short Sale class today, and confirmed what they are seeing as well; "incline" in Idaho's numbers of late, keeping title companies plenty busy, and values dropping as we spoke. Highlighted many of the "gotchas" to watch out for in NJFP's (Non-Judicial Foreclosure Proceedings), in particular … (0 comments)
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foreclosure: What is a Short Sale, Bev? Hmm, let me help you with that: - 02/17/09 06:14 PM
First, you should know, I think of the word "short" not as a measure of time that it takes to work out a short sale. On the contrary, it takes a while to make this happen, and get someone to help you who has experience and knows what they're doing if you've decided to short sale are up against the time constraints of an auction date. Instead, to me at least, the word "short" is used as if the lender/bank is agreeing to "come up short"--agreeing to accept less than the amount owed on the property. There is a lot of paperwork to be done, … (7 comments)
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foreclosure: What is "REO, Bev?" --I get that a lot, and I'll try to be concise: - 02/17/09 05:52 PM
REO = Real Estate Owned (by the bank). Put simply, whoever loaned out the money to "buy" the house in the first place, now owns the house. Through a usually lengthy and expensive foreclosure process, generally culminating in a public auction, no one else buys the house at auction--private individual or investor-- so the "bank" ends up owning it.
From the point of view of the broker acting on behalf of a potential buyer to purchase the home after it has "gone back to the bank," there is every reason to believe that purchasing an REO property is easier than purchasing a … (3 comments)
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foreclosure: Boise Area Real Estate / Ada County Market Report for January 2009 (as of 2/15/09) - 02/15/09 10:46 PM
Below is a market report grid for Ada County. Data pulled from Intermountain MLS. If you would like additional information on a specific city within the county, please write Bev@AccentIdaho.com and I'll gladly oblige. As yet, IMLS does not break out the foreclosure/short sale/REO data in their monthly/quarterly reports, but perhaps that is coming soon; our local listings just began utilizing these classifications for ease of searching. Boise and Meridian both are great examples of areas so large that they are broken into several pieces, such as "NE Boise" or "Boise Bench," etc., so if you're interested in info for a … (0 comments)
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foreclosure: In or near default? Questions? --Knowledge is de-STRESS when in distress --Part 1 - 02/04/09 11:42 AM
"So Bev, what happens to my credit if I short sale my house?" --I can't count the number of times I've heard that question...
Ugly signs all around you? Feel lost? Bewildered? Confused? Don't know what to do? Boise, Eagle, Meridian, and Star Area Homeowners who are facing words like "foreclosure," or "default," perhaps "auction" --or all three, don't get overwhelmed, and don't let your questions go unanswered. You can get answers, and you can decide what is best in your situation.
Just as every house is not the same as the next, every homeowner distress situation is not the same. Short sale may or may not … (0 comments)
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Bev Boeck
Eagle,
ID
More about me…
My Idaho Place Real Estate, Inc.
Address: MyIdahoPlace@gmail.com, Eagle, ID , 83616
Office Phone: (208) 353-9876
Cell Phone: (208) 353-9876
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