Idaho Foreclosures

Foreclosures for sale Near Boise, ID

The term "foreclosure" typically refers to properties repossessed by the bank due to the owner's inability to make payments. You will also see many homes that are "in foreclosure" but have not been repossessed and the current owners can still sell before the foreclosure process is complete.

Homes in foreclosure are properties that are in the process of being repossessed by a lender, typically a bank or mortgage company, due to the owner's failure to make mortgage payments. When homeowners default on their mortgage loans, the lender can initiate foreclosure proceedings to take possession of the property and sell it to recover the outstanding debt. That can take time and it usually gives the seller the ability to sell it before the foreclosure is completed. Once a property is foreclosed on, it is usually put up for sale at a public auction or sold as a bank-owned property (REO, or real estate owned) by the lender.

For buyers, homes in foreclosure can sometimes present opportunities for purchasing properties at a lower price than their market value. However, it's essential to be aware of the potential risks and challenges associated with buying a foreclosed property, such as its condition, liens, and the complexity of the foreclosure process. Below is a list of all homes in foreclosure in the Treasure Valley and surrounding areas.

If you own a home and are struggling to make payments and have received a notice of default, its not too late. There are still options available with your lender such as forbearance, refinance, repayment plans, mortgage reinstatement, and deed in lieu of foreclosure. If none of those options will work and you need to sell, reach out to me for a consultation. A short sale is an option if you have negative equity in the home.