Foreclosures & Short Sales
Information about foreclosures and short sales. Information helpful for home sellers and oportunities for home buerys in the Ada and Canyon County Idaho. Includes real estate in Boise, Eagle, Meridian, Star, Kuna, Nampa, Caldwell & Middleton
Entries 1-10 of 14
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Thursday, December 24, 2009
According to Experian and consulting firm Oliver Wyman 14.24% off all mortgage defaults in Idaho in 2008 were strategic. This means the borrower could have paid but choose not to. This is up nearly double what it was in 2008 (7.71%). What is your thought on what it will be in 2009? I'm guessing 20%.
Posted by DarrinJ at 12/25/2009 1:33:00 AM
Friday, December 18, 2009
The plunge in home prices is presenting millions of Americans with a moral and financial dilemma: Should they keep paying their mortgages?
Posted by DarrinJ at 12/19/2009 1:28:00 AM
Thursday, December 17, 2009
This is just too good. Morgan Stanly is giving properties back to their lender. You know why? They are not worth what they paid for them.
Posted by DarrinJ at 12/18/2009 1:22:00 AM
Monday, August 31, 2009

 A judge in Brooklyn, NY, who has tossed out nearly half of the foreclosure cases brought before him over the past year, because the lenders have such messy paper trails that they can't prove ownership anymore.

Read the rest....

Posted by DarrinJ at 9/1/2009 1:27:00 AM
Sunday, July 12, 2009
Short Sale Myths A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.
Posted by DarrinJ at 7/13/2009 2:22:00 AM
Tuesday, May 19, 2009
Ok I know - the term "forgiven" when used in the same sentence as "foreclosure" is a bit of a joke but it is how the IRS views things.
Am I taxed on debt forgiven through a foreclosure or shortsale? The answer is another "maybe".  If the property sold through a short sale or deed transfer through foreclosure there is the possibility that you will pay tax on any debt forgiven especially if the property is NOT your principal residence.
Update Dec. 11, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence
  • Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief. 
  • This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). 
  • The exclusion doesn't’t apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. 


Posted by DarrinJ at 5/20/2009 1:29:00 AM
Thursday, March 26, 2009

I have some great news to report. Two homes every day are saved from foreclosure in Ada and Canyon Counties through the short sale process. As of this writing there have been exactly 159 homes that have closed through a short sale this year. That equates to exactly two closed sales every business day.

The price range for these homes range from a high of $700,000 to a low of $160,000. The average price is $189,293 and the median is $160,000.
The average market time for these sales is 141 days area wide.  Below is a breakdown by MLS area.
No. Of Listings
Dollar Volume
Average Price
Median Price
Single Family
North Boise - 0100
NE Boise - 0200
SE Boise - 0300
Boise Bench - 0400
South Boise - 0500
SW Boise-Meridian - 0550
West Boise - 0600
W Boise-Garden City - 0650
NW Boise - 0800
Eagle - 0900
SE Meridian - 1000
NE Meridian - 1020
NW Meridian - 1030
Kuna - 1100
NE Nampa (87) - 1250
South Nampa (86) - 1260
NW Nampa (51) - 1270
NW Caldwell - 1275
SW Caldwell - 1280
Middleton - 1285
Star - 0950
Melba - 1265
Greenleaf - 1294
Sub Total
Single Family w/ Acreage
Eagle - 0900
SW Meridian - 1010
Kuna - 1100
Middleton - 1285
Sub Total
Posted by DarrinJ at 3/27/2009 1:54:00 AM
Tuesday, February 10, 2009


Video transcription below:
Hello! Darrin Jaszkowiak here with Re/Max West of Boise, Idaho.
I want to visit with you today about Foreclosure Scams. I am referring directly to companies and individuals that are trying to prey on people that are in a very vulnerable situation.
So, imagine you are behind on your house payments. You are in the midst of a foreclosure. You get some literature in the mail, a phone call, a thing on the internet that says, “Hey, we can save your home from foreclosure. Results guaranteed! Just send us $3,000. We’ll take care of everything. We will modify the loan. We will work with everybody. We guarantee our results”.
Here is the thing, all of these individuals…well not all, but a vast majority of them, are trying to take your money. Here are the facts, any loan modification - anytime somebody is in trouble - the bank is the one that makes all of the decisions (approves of the modification).  All that these companies can do is collect your information and pass it along to the bank. The bank underwrites the file and then agrees whether you can get a loan modification or not. Then they contact you.
Many of these companies charge between a thousand and three thousand dollars, sometimes more, with a processing fee of five hundred to fifteen hundred dollars. 
I have done some of these (modifications). It only takes a maximum of about 8 hours worth of work. 
That’s gathering the information – YOU gather all the information and give it to these folks.
Now some of them (modification companies) can be very valuable. They know what information to gather. They know how to present the information to the lender.   But you can do it yourself if you want to. And it, frankly, is not that difficult.
I would not give any of these people a non-refundable fee. Look at their policy very closely. But before you do that – see what it is like to be one of these people -
Get on the internet and type in…"how to get into the loan modification business"…
See what comes up. You will have a hundred different sites selling to everybody, kits, how to make some fast easy money. Well it is fast. It can be easy, if you give them the money.
Work with a qualified professional. Work with somebody you can actually meet with. A local attorney, qualified real estate professionals – if they are licensed properly to do it. 
I wouldn’t do any of this over the telephone with these folks out-of-state. They must be licensed in this state to operate in the state of Idaho
And you can do this yourself. I want to stress that.
If you don’t know exactly what to do, give me a call. I would be happy to go over the information with you.
There are also some wonderful resources on the internet about that very subject – how you can do it yourself.
I hope this was helpful
And, I hope it helps save some people some money, and some pain and suffering.
Have a great day! And, it’s a good life in Idaho!


Posted by DarrinJ at 2/11/2009 4:22:00 AM
Tuesday, February 3, 2009
How we can all help people who are potential facing foreclosure in the Boise Idaho area.
Posted by DarrinJ at 2/4/2009 3:47:00 AM
Monday, January 26, 2009


What is a deficiency judgment? Watch this video to find out or read the transcript below. What you absolutely must know before you decide to let your home go to foreclosure. There are options and this little bit of information can potentially save you thousands. Check out the Foreclosure vs. Shortsale tools for more information.


Video transcript: Contemplating a foreclosure or short sale in Idaho. Consider the possibility of a deficiency judgment and how to possibly avoid it with the right representation.
Recently I have had to inform a number of clients that there is the potential for what is called a deficiency judgment. And, that is when you lose a property through foreclosure or you sell your property through a process called a short sale. In either case there is a loss incurred by the lender and in which case they can effectively get a judgment against the seller, the borrower, for the balance that the loss was. So, you have a property that had a $250,000 loan; the property sold for $200,000 – the lender could in turn get a judgment against you for the $50,000 loss.
There are some restrictions to that. They only have 90 days in which to do so, once the foreclosure sale takes place. The good news is, this doesn’t happen very often on residential mortgages. In fact, in most instances, if we sell the property through a short sale process we can then obtain a release of any deficiency judgment.
So, that is the suggestion and recommendation that I make if you have to sell a property – you owe more than it is worth – that we do try to obtain a short sale and a release of the deficiency judgment.
Feel free to give me a call any time – 208-287-0400, or email me.
Thank you very much!


Posted by DarrinJ at 1/27/2009 5:50:00 AM
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