The U.S. Treasury on Monday, November 30th 2009, set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.

The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury's website.

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Idaho Short Sales

The Idaho Housing market has picked up; great news right? Although that is great news, prices still remain at an all time low and many homeowners still owe much more on their home than what the home could be sold for in today’s real estate market.  

If you find yourself in a situation where you MUST sell your home and you are one of the many homeowners upside-down in value there are 2 options:

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Idaho Short Sale vs. Idaho Foreclosure

With many Americans facing the very real threat of foreclosure, many are looking for ways to avoid it. One option, and a topic that has garnered a lot of industry interest, is a Idaho short sale. Idaho Short sales are becoming an increasingly popular, and common, foreclosure avoidance tactic for homeowners.

To help understand how a Idaho short sale would relate to, or differ from, a Idaho foreclosure, I have put together the graph below to help clarify.

At its best, a short sale can be a win-win for both parties buyers and sellers. For the seller, a Idaho short sale provides the opportunity to avoid Idaho foreclosure and the dreaded implications that a Idaho foreclosure brings, in addition to being able to return to home ownership sooner; alternately, the lender receives most of the value of the loan sooner, and avoids incurring additional legal or carrying costs while the Idaho foreclosure process plays out, which can sometimes even take years. And, frankly, Idaho short sales are great options for savvy buyers - but these buyers need to not only be looking for a bargain, but have the time and skills to negotiate effectively as well.

In conclusion – Idaho short sales do present a better option for distressed sellers than Idaho foreclosures. However, it is neither an easy or short process, and sellers should seek Hiring a Idaho Short Sale Specialist, Tax professional and a Attorney. I am a Idaho Short Sale Specialist and a CERTIFIED DISTRESSED PROPERTY EXPERT. I have the EXPERIENCE it takes and I have made a heavy investment in specific classes on all facets of the short sales process. There are so many things that go into a successful closing on Idaho Short Sales. I offer free consultation with you to discuss whether or not a Idaho short sale is the best option for you and your family. My services won’t cost you a penny! Fees are paid upon successful negotiation on the sale of your property by your lender(s). If you want to know if you are eligible for a Idaho short sale, please contact me. The sooner you call, the more options we have. I will assist you in a professional, confidential, and non-judgmental way. I am here to help you avoid foreclosure!

Yuri Blanco
RE/MAX Executives
(208)899-3352 CELL
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46 Eagle River Street Suite 130
Eagle, ID 83616