Foreclosure is a nightmare to any family going through it irrespective of the reasons why they are about to lose their home. Today we are going to look at the foreclosures effects in Boise Idaho and what local house sellers need to know. First we will look at the effects and the ways of easing them.
Foreclosure Effects in Boise Idaho to Sellers
- Loss of your home – Pretty self-explanatory here. The major end result of a foreclosure in Idaho is of course the loss of the home to the bank.
- Decrease in Your Credit Rating – Your credit rating will be lowered by the foreclosure. How much? It depends on how high your current credit score is… but the higher your current credit score… the more your score will drop after a foreclosure. If you have a credit score of 680 or higher… you may see a drop of 100+ points.
- Depression and Stress – Your mental health is at stake because of the high pressure situation. Going through a foreclosure is emotionally exhausting and frustrating to say the least.
- House Values In Your Community – Another one of the big foreclosure effects in Boise Idaho is that they tend to lower the overall value of the houses in your neighborhood… especially if there are multiple foreclosures in the immediate area.
How You Can Ease The Effects Of Foreclosure In Boise
For the well being of you and your family, you need to mitigate the effects of foreclosure as much as you can. The process can be frustrating and time consuming, but there are people who can help you navigate your different options in the process.
- Call your bank and work with them: Most banks are very willing and ready to work with you… if you can show that with their help you can get back on track and save your house. Or, if you just want out of the house but you owe more on the house than it’s worth… see if the bank has any programs to lower the mortgage burden so you can get out from underneath it without it going through an expensive foreclosure.
- Talk with a local real estate expert, like Northwest Home Buyers: We know the local Boise real estate market well and are very experienced in the foreclosure process here in Idaho. Give us a call at (208) 214-3365 and we can guide you toward the resources that can possibly help you.
- Sell your house: If you’d rather find a way to sell your house and avoid the foreclosure all together, great! We buy local Boise houses for cash… and would love to look at your situation and make you a fair all-cash offer on your house. Just call us at (208) 214-3365 or shoot us your details through this website.
With the above knowledge on foreclosure effects in Boise – what sellers need to know, you can guard yourself by calling Northwest Home Buyers at (208) 214-3365 and we shall assist you in the shortest time possible to sell your house.
If you find yourself facing foreclosure and unable to find tenants or maybe just inherited a home, in any case, we can help you sell your home in Boise in 7-10 days. If you’re thinking of selling and are exploring your options, consider selling directly to us.
Call our team at (208) 214-3365
If you don’t want to go through the hassle and headache of selling to the market, then we might be able to help. We’ll give you a quick call once we find out a bit more about your property in Idaho, and make you an offer on your home the same day.