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Idaho is situated in the northwest region of North America.With a population of approximately 1,567,582 people, it is the 14th largest state in America and covers a landmass of over 83,000 square miles. Major cities in the state include Meridian, Caldwell, Idaho Falls, Nampa and Boise, which is the state's capital city. Notable counties situated within Idaho are Washington County, Bonneville County, Bingham County and Ada County.
Idaho features a vast array of beautiful mountain ranges, providing several opportunities for stunning scenic views and the chance to explore new places. Major landmarks and natural icons in Idaho include Shoshone Falls, situated on the Snake River, which is also host to Hells Canyon; the Rocky Mountains (which is the largest landmass in Idaho); Lake Pend Oreille and the Clearwater Mountains. A string of rivers also runs across this naturally beautiful state. The most famous of idaho’s rivers are: the St. Joe River, the Kootenai River and the, previously mentioned, Snake River. The state's climate features monthly averages ranging from 90 degrees F and above, along with lows of 15 degrees F and below.
Boise's demographic boasts a predominantly Caucasian population, along with a modest presence of Hispanic, Asian and Black communities as well. The rate of high school graduates sits at over 80 percent, with over 1/5 of the population holding bachelor's degrees or a higher level of education.
The city's business sector is also host to a number of headquarters and branches, including New Albertsons Inc, Boise Cascade LLC and WinCo Foods. The highest rate of full time employment resides among the sewerage workers, firefighters, park and recreation workers and the police force, along with other areas of the government's workforce. However, wholesale and retail industries dominate economic growth, with international companies and local, smaller businesses contributing to the state's overall revenue.
Home values in Boise currently sit at a median list price of $42,000, with Idaho foreclosures sitting at a similar price range. Home ownership is flourishing in the state and in its major cities, with an average of over 70 percent of Idaho households owning a home at a time. Coinciding with this high number of home ownership is the number of increasing housing units, whose median price is at 64,402, a figure that is on the rise. With these trends, the market is strong and thriving, which provides many great deals in the Idaho home foreclosures market.
Although judicial foreclosures do occur in Idaho, most are carried out outside of court through non-judicial proceedings. Typically, these kinds of foreclosures go through a five-month process
The process of foreclosure begins when a lender mails a notice of default to a borrower (homeowner), informing them of the outstanding amount they owe towards their mortgage. This type of notice can also filed with the county recorder, at which point the lender may schedule a date for the foreclosure sale of the property. The homeowner then has at least 115 days in which to settle the debt by paying the full amount owed to the lender, plus any additional late fees they may have garnered. In some cases, as stipulated by individual mortgage agreements, the homeowner may have until the date of the sale to settle the amount of debt they owe.
In order to inform the public of the upcoming foreclosure sale, the lender must publish a notice of sale containing all pertinent information ( this includes location, date, and terms) in a local newspaper. The notice must run for a time period ranging from one to four weeks prior to the scheduled sale date.
A foreclosure sale is usually run in the style of an auction, and is, oftentimes, conducted by the lender's attorney (the lender, in this case, is also known as the "trustee"). Any person may bid at the foreclosure auction, except for the homeowner. Once the winning bidder has provided the full amount of their bid to the trustee, he or she is issued a certificate of sale. The winning bidder is awarded full possession and ownership of the property ten days after the sale takes place.
Once the sale has ended, the original homeowner has no right to redeem their property under Idaho foreclosure law.
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