Welcome to my Foreclosure and short sale page. Every week, on Wednesday, I get a list of foreclosed properties for Ada County and Canyon County, which includes the cities of Boise, Meridian, Nampa, Kuna, Caldwell, Emmett, Garden City, Star and a few others.

If you would to learn a little more about the difference is between a short sale and a foreclosure, then please read the following information. If you already understand what a foreclosure and a short sale is, and simply want a copy of this list sent to you then simply scroll down and fill out the form bellow and I will send it out to you every Wednesday.

What is the difference between a foreclosure and a short sale?

Overview of a Short Sale:

A short sale is the sale of real estate such as a home, condo or a piece of land, where the property is worth less money than the current loan amount. For instance, in today's market, you may find a home with an appraised value of $250,000, however the balance on the loan might be $300,000 or more. This occurs when a home owner (borrower) cannot make the monthly loan payment on their property. The lender or bank decides that selling the property at a loss is better than going through the expensive and time consuming foreclosure process. So, in this case, both parties agree to the short sale process, which avoids the foreclosure process and does not hurt the borrowers credit as much.

Overview of a Foreclosure:

A foreclosure is a legal proceeding in which a mortgagee, which is typically a bank or individual, who obtains a court ordered termination of the agreement between the lender and the homeowner (borrower). Foreclosure proceedings are started if the borrower defaults on the loan by not making payments for a given period of time and the lender tries to repossess the property through legal procedures. Other lenders and  lien holders can also foreclose the home for other debts, like overdue property taxes, contractor's who were not paid, or overdue homeowner's dues.

After the legal process is complete, the lender of bank gets to sell the home or property and keep the proceeds from the sale (if any) to pay off the mortgage and any legal costs associated with the foreclosure process.

Next, the county, or county sheriff, evicts the homeowner and auctions the foreclosed property. The asking price is typically the remaining unpaid balance on the loan. However, there are a number of factors that come into play regarding how pricing for a home is calculated. In a weak market like we are in now, and with so many properties available on the market, the foreclosing party may need to set the asking price at a lower dollar amount.

In the case where the remaining loan balance is higher than the actual value of the home, the foreclosing party is may not get auction bids at this higher price. So, a home that goes through the foreclosure process and fails to attract an acceptable bid will then remain the property of the lender or bank. This inventory is now sold through standard real estate channels at substantially reduced prices.

So, if you are interested in Boise foreclosures, Meridian foreclosures, or foreclosures Ada County, Canyon County and any of its cities, then fill out the form at the bottom of this page to receive my list of foreclosed properties. I get this list once a week on Wednesdays and can email or send it via the postal service.

I offer two different options for sending you my list of Boise foreclosures, Eagle ID foreclosures, Meridian ID foreclosures, and Ada County foreclosures and Canyon county foreclosures, which include the cities of Kuna, Nampa, Middleton, Emmett, Caldwell and star.

1. Email: Simply input your email address and first name and I will send you a report each week. You can easily opt-out any time. You do not need to fill out the other fields if you don't want to.
    
2. Postal Mail: If you prefer to receive your list of foreclosures by standard mail, then please fill out the entire form.