As the foreclosure rate for the nation remains steady, the Idaho foreclosure rate is slightly decreasing. In Idaho there were 569 foreclosures in April, 542 in May, and 501 in June of 2007. Even with the slight decrease in the foreclosure rate in Idaho, the number of foreclosures in the nation remains high.

Foreclosure is a result of not making your monthly mortgage payment to your lender. The truth is, financial difficulty can happen to anyone, so knowing your options when it comes to the foreclosure process is knowledge everyone should consider.

Here are some of the typical situations of financial difficulty that lead to foreclosure.

• I have health problems and can not afford my mortgage
• My real estate market has changed and now I can not sell my house
• I had a death in my family and now I can not afford to keep my house
• I lost my job and now can not pay my bills
• My mortgage payment just increased and now my payments are too high
• I am going through a divorce and need to sell my house fast
• We just had a new baby and we can not afford to keep our house
• Our medical bills are too high and we can not sell our house

Here are a few options when it comes to foreclosure avoidance. If you are in a foreclosure situation consider these options and contact your local home buyer.

Reinstatement Plan for your Existing Mortgage

Repayment Plan with Your Existing Lender

Loan Modification

Refinance Your Home

Pre-Foreclosure Sale

Short Sale

Deed-In-Lieu of Foreclosure

Unfortunately many of your options will have long term consequences affecting your credit that you need to be aware of. Therefore I highly recommend talking with a real estate professional about your foreclosure situation.

Many times the best foreclosure avoidance is to sell your home fast. You can sell your home fast to a real estate investor to stop the foreclosure process. Here are some of the benefits of selling your home fast to a professional home buyer.

• They can make up your back payments
• They can take over your loan
• They can purchase your home fast, on the date of your choice
• They can work with the bank to complete a short sale
• You can sell your home fast and rent it back from the real estate investor

More info on your stop foreclosure information search:

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