A new rule created by the FTC to protect Idaho homeowners from mortgage debt relief scams may have an impact on real estate professionals helping clients with short sales. In a nutshell the rule bans all upfront fees for renegotiating mortgage terms and mandates some disclosures are made to consumers if a short sale is [...]
If you can no longer pay what’s due on your mortgage, you’re in the same situation that millions of people have already faced. There are options, in some cases, that may help you to avoid foreclosure. If you’re located in Idaho, short sale requests can be made to your lender if your house is currently worth less than you owe on your loan. Lenders are more likely to accept this offer if specific circumstances apply. The alternative is most likely foreclosure, which is the worst possible outcome of homeownership and something everyone wants to avoid.