Foreclosure in Idaho: What is Foreclosure?

Foreclosure is the name given to the process where a mortgage lender “repossesses” a property due to non-payment of the mortgage or deed of trust.

Foreclosure in Idaho is a judicial process. Generally speaking, after 90 days of no mortgage payment, the lender will file with the trustee a "Notice of Default" action. After 120 days from that point, there will be a "Trustee's Sale".  The property may be redeemened at any time during the 120 day period by paing all back payments, interest, attorney's fees, filing fees, etc.

Foreclosure can happen to anyone

Overwhelmingly, non-payment of a mortgage is usually due to a sudden loss of income, perhaps from a job laying someone off, sudden transfer, or maybe a sudden illness in the family. Very rare is it the case where someone just doesn’t want to pay – losing one’s home is something that nobody wants to go through.

The first thing to understand if you are going through foreclosure is that you do have rights and options. It’s important that you understand the process, and what is involved.

Help is available

I can help you if you are facing Foreclosure in Idaho. In addition to my real estate experience, I am also experienced in the Foreclosure process, and can help you during this trying time. Contact me if you are facing foreclosure in Idaho.

Although time is paramount when it comes to foreclosure, my “no pressure” approach rings true here. In short, I am not an investor looking to buy your home on the cheap, but a real estate professional that can help guide you to the best possible outcome for your unique situation.

Talk to an Idaho Realtor you can trust

Idaho Realtor George Tallabas has years of experience in the foreclosure process, and will not only listen with a sympathetic ear, but will offer solutions to your problem. If you are going through foreclosure (or think you will be going through it) and want to speak to someone you can trust, contact Idaho Realtor George Tallabas today.