If you are a home owner who faces losing your home and you have received a notice of foreclosure from your lender, it may not be too late to save your credit from a FORECLOSURE!
If you have tried a loan modification with no success, your next best step might be a short sale.
Think of this: If the bank forecloses on your house, you’re going to have to move, right?
So, if you sell (short sale) you will have to move as well. Often times, a short sale may postpone … (3 comments)
As a disclaimer, I am not an attorney, but I play one on TV…
According to Idaho code, a lender who has interest in a property, secured by a deed of trust, has 3 months to file suite to claim a money judgment on the deficiency of a defaulted loan after the sale date.
This is good news to home owners who have either had their property foreclosed on or sold through other means.
Read the Idaho Code here: http://legislature.idaho.gov/idstat/Title45/T45CH15SECT45-1512.htm
For the Idaho Real Estate Market, distressed properties made up over 68% for Canyon County and 47% for Ada County.
As you look at the charts below, you can see a break-down of Idaho short sales and foreclosures by city and by county.
Idaho short sales and Idaho foreclosures are here to stay for a while and there are great buys in the Idaho Real Estate Market right now!
If you are thinking of waiting to sell when the market comes back up, you … (7 comments)
idaho foreclosures: Ada County Idaho Short Sales and Foreclosure Inventory
- 11/07/10 06:33 AM
Ada County Idaho Short Sales and Foreclosure Inventory for November 1, 2010 Short Sale & Foreclosure Homes in Ada County Idaho Statistics as of November 1, 2010: 3795 active single-family Ada County homes listings were available as of November 1st. 40% of these homes are "distressed properties" 455 are REO by banks (foreclosures) and 1059 are short sales (28%). SOLD Data for Ada County Homes: As of 10-31-2010, 5505 Ada County Homes have SOLD. 45%of these homes in Ada County were "distressed properties" 1584 Bank owned REO's and 914 Short sales (17%). There is approx. 7 months of inventory available for Ada County Home Buyers to choose from. Typically anything over 6 months worth of inventory is considered … (0 comments)
idaho foreclosures: The State of Idaho Real Estate
- 09/06/10 03:13 AM
Home Sales in Canyon and Ada County, Idaho Canyon County Statistics as of September 1, 2010: 1974 active single-family homes in Canyon County ID were available as of September 1st. 46% of these homes are "distressed properties" 260 are REO by banks (foreclosures) and 655 are short sales (33%). Canyon County ID SOLD Data: As of 8-31-2010, 2164 Canyon County Homes have SOLD. 66% of these Canyon County homes were "distressed properties" 1067 Bank owned REO's and 371 Short sales (17%). There is approx. 7 months of inventory available for Canyon County Home Buyers to choose … (0 comments)
idaho foreclosures: A 24 Month Glance at Idaho Real Estate Prices
- 08/01/10 03:13 PM
Boise Idaho Area Real Estate Prices: If you are an Idaho real estate seller, don't kick yourself too hard for not putting your house on the market a couple years ago. If you have held off for this long, hopefully you can make it through the turn, wherever that might be. For Ada County average home prices, the drop has been significant, a whopping 25% down from this time 2 years ago (August 2010). For Canyon County home prices, however, the drop has been astounding! The average sales price of a single-family residence dropped 33% in the same 2 year period! Take … (2 comments)
idaho foreclosures: Homes in Nampa Idaho: The Islands
- 02/23/10 12:37 PM
Homes in Nampa Idaho: The Islands Nampa Idaho Subdivision: The Islands, offers a variety of price ranges and some excellent buys on Idaho Real Estate right now! When you think about all the bargains of Idaho short sales, Idaho foreclosures, motivated sellers, low interest rates and tax incentives, NOW is the best time to buy homes in Nampa Idaho! Don't miss out on the Home Buyer Tax Credit! Be in contract by April 30, 2010 to qualify! Find out the quick & easy basics of Nampa Short Sales.
… (1 comments)
idaho foreclosures: Conventional Rehab Loans
- 01/05/10 01:52 PM
Conventional Rehabilitation Loans Make over the house to fit your lifestyle... "We really loved the house, BUT..." You just toured a home you liked, in a great location. But it didn't have new carpet, had unattractive landscaping, or it needed new electrical wiring throughout the house. Perhaps the house's paint sorely needed updating, or the home just lacked the modern amenities you and your family look for.
Because you can envision the possibilities... From exterior curb appeal to interior repairs, don't walk away from what could be the Idaho home of your dreams because of things that … (2 comments)
idaho foreclosures: Idaho Short Sales
- 12/09/09 12:28 PM
Is your state a recourse or non-recourse state when it comes to debt relief and foreclosures? In a non-recourse mortgage state, borrowers are not held personally liable for more than the home's value at the time that the loan is repaid. The lender may recoup some of its loss through foreclosure. However, the lender may not sue the borrower for additional funds. If the foreclosure sale does not generate enough money to satisfy the loan, the lender must accept the loss. Each non-recourse state has its own anti-deficiency statutes that prohibit lenders from seeking judgments. In a few cases, anti-deficiency statues … (6 comments)
idaho foreclosures: Will Banks Just Start Saying "NO"?
- 12/06/09 12:28 PM
With new Short Sale Guidelines coming in the near future and the pressure put on banks to give an answer within 10 days of receiving the short sale request, will they just start saying no? We all know that third-party lenders are swamped with short sale files, which they are trying to get processed. With all the parties involved, including investors like FNMA or FDMC as well as a multitude of private investors, will the banks actually be able to give an answer within that short amount of time? There are fears that they may just start to answer "no" and … (6 comments)
idaho foreclosures: Boise Foreclosures
- 12/23/07 01:02 PM
I've just updated the local list of upcoming foreclosures in the Nampa / Boise Real Estate Market on my web site: www.sellidaho.com/blog If you're interested in taking advantage of some of these great opportunities and possibly even helping these sellers out by purchasing them before they go into foreclosure, please let me know. Idaho real estate is a great investment! Our economy is strong, the unemployment rate is almost non-existent, and the 4 seasons climate is awesome! Interest rates are low & it's a great time to buy! always looking out for your next move on Idaho Real Estate, Don Wixom Broker/Owner RE/MAX Advantage Nampa … (1 comments)
idaho foreclosures: Idaho Foreclosure Properties
- 11/22/07 10:46 AM
As a service of our local Title & Escrow Company, they provide to me a list of the upcoming foreclosure sales. Whether the sale will take place or not, the seller's have been served with a delinquent notice and foreclosure procedings are underway. many times the seller is able to bring the debt current or sometimes the sale is held up by a bankruptcy. In any case, I have been able to compile this list & provide it the public, easier than watching the papers or culling through county records. Buyers can simply view a list of Idaho Foreclosures on www.sellidaho.com. Just one more service … (0 comments)
In Foreclosure? It’s Not Too Late…
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