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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, covering 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 include Washington County, Bonneville County, Bingham County and Ada County.
Idaho features a prominent presence of vast 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 Snake River, which is also host to Hells Canyon, the Rocky Mountains (which encompasses the largest landmass in Idaho), Lake Pend Oreille and the Clearwater Mountains. A string of rivers run across the state's region, with notable ones including St. Joe River, 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 host to a number of headquarters and branches, including New Albertsons Inc, Boise Cascade LLC and WinCo Foods, with a high rate of full time employment listed under services including sewerage workers, firefighters, park and recreation workers and the police force, along with other areas of the government's workforce. 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 its several major cities, with an average of over 70 percent of households currently owned. Coinciding with this is the number of increasing housing units, which is at 647,402, a figure that is on the rise. With these trends, the market is strong and thriving, providing great deals on many Idaho home foreclosures.
Although judicial foreclosures do occur in Idaho, most are carried out outside of court through non-judicial proceedings. Typically, these kinds of foreclosures last about five months.
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. The Notice of Default is 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 garnered. In some cases, as stipulated by individual mortgage agreements, the homeowner may have until the date of the sale to settle the debt.
In order to inform the public of the upcoming foreclosure sale, the lender must publish a Notice of Sale containing all pertinent information (location, date, terms) in a local newspaper. The notice must run once a week for at least four weeks prior to the scheduled sale date.
The foreclosure sale is run in the style of an auction, and is usually conducted by the lender's attorney (the lender in this case is also known as the "trustee"). Any person may bid at the auction. 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 redemption under Idaho foreclosure law.
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