Warning to Idaho Home Owners concerning "Rescue Plans" that claim to prevent mortgage foreclosure.  There are lots scams calming to save your home.  Beware of rent back deals.  Never sign your hme over to someone promising to pay your loan off.  Never do a quit claim deed transfer.  Make sure you use a title company to close your sale.  Even be wary of real estate agents claiming to be short sale experts.  Many are, but many are just trying to be.  Watch the video below to see how one home rescue scam is playing out across the country.  It happens even in Idaho.   click on the short sale approval letters tab on the left.  If anyone has contacted you about buying your home quick, be very careful.  Be very careful of we by houses schemes.  Read this page, watch the video and after you view the short video please click on the short sale approval letter and the alternative to foreclosure tabs on the left to get more information. Email gosche@cableone.net and ask for a short sale report.  One more thing to watch out for are investors wanting to buy your home as a short sale.  They may tie you up so you can't sell to a legitimate buyer only to leave you in default and high, dry and facing foreclosure.

1. Click on here and watch this one example of foreclosure fraud!

2. Read the Senate bill below which is highlighted in yellow.

3. Call Jon Gosche at 208-870-2115 or John Boles at 208-830-6185 for information on how we can help you if you are missing home payments or about to.  We do not buy foreclosure property.  We do help people who are out of options avoid foreclosure often when they owe more than they can sell their home for buy finding legitimate buyers and helping the seller negotiate with their lender to accept a short sale.  In a short sale that is done legally you will probably not walk away with money, but we often do get lenders to settle for the proceeds of the sale as payment in full for the debt you owe with no further recourse to them to sue for a default judgment.  This usually includes most if not all closing costs including real estate commissions.  We are here to help.  Unlike "investors" and non licensed "short sale experts", we are Idaho licensed Real Estate Brokers/agents/Realtors® who are mandated by law to act in the best interest of our clients and also to abide by the National Association of Realtors® code of ethics.  And we have the vital experience and contacts to make short sales happen.

4. Almost every day we talk to people who are getting WRONG information, illegal information, and just plain bad advice from Real Estate agents, lender's so called short sale negotiators (non licensed buyers) and others.  We talk people who talk to agents who claim they are experts and have several short sale listings all the time.  But when you look up closings they have few or none.  Ask for approval letters like these (click here). When people are telling you that you must start defaulting to do a short sale it is a red flag!  Other red flags are when agents rush and pressure you to sign a listing agreement.  Before you do that call us and get our pre listing information package!  Take your time and understand the facts and, implications and alternatives to foreclosure.  We will not list your home for a short sale until you know you understand what you are doing and are sure this is your best option.

We understand the Senate bill below to be a warning to vulnerable home owners who may be now or in the future in trouble and or getting behind on mortgage payments and in fear of bankruptcy or foreclosure.  There are investors, and real estate professionals who have various "plans" claiming to allow you to avoid foreclosure.  It may very well be that a short sale or other action may help and in fact be the only way to avoid losing your home and still being indebted to a lender for deficiency.   The purpose of this bill is to insure as best as possible that you as a home owner are informed and understand any contract that you may enter into and it is the responsibility of a trustee, or anyone proposing such a plan to give you the information below in writing on canary yellow paper.  If anyone has contacted you or not, and you want more information please call Jon Gosche at 208-870-2115 or John Boles at 208-830-6185.  We would be happy to listen and look at your situation and help answer any questions that you have.  Please read the section of the bill below.

Section of Idaho Foreclosure Law  SENATE BILL NO. 1431, As Amended

The following is a section of Senate bill 1431 which makes it mandatory for trustees, and individuals or businesses that claim that they can “save” your home from foreclosure.  It is unclear whether this includes Realors®, but we believe this is not only good law but right that you as a potential short sale seller understand this.  Particularly important is what I have enlarged above and beyond the required 12 point sized print below.

 38    this subsection (3) shall be deemed effective at the time of mailing. In addi-

 39    tion,  the trustee shall mail the notice required in this section to any indi-

 40    vidual who owns an interest in property which is the subject of this  section.

 41    Such  notice  shall  be  accompanied by and affixed to the following notice in

 42    twelve (12) point boldface type, on a separate sheet of canary yellow or  some

 43    similarly  colored  yellow  paper,  no smaller than eight and one-half (8 1/2)

 44    inches by eleven (11) inches:

 45                          "NOTICE REQUIRED BY IDAHO LAW

 46        Mortgage foreclosure is a legal proceeding where a lender  terminates

 47        a  borrower's  interest in property to satisfy unpaid debt secured by

 48        the property.  This can mean that when a homeowner gets behind on his

 49        or her mortgage payments, the lender forces a sale  of  the  home  on

 50        which the mortgage loan is based.  Some individuals or businesses may

                                       4

  1        say  they  can "save" your home from foreclosure.  You should be cau-

  2        tious about such claims.  It is important that you understand all the

  3        terms of a plan to "rescue" you from mortgage foreclosure and how  it

  4        will  affect  you.  It may result in your losing valuable equity that

  5        you may have in your home.  If possible, you should consult  with  an

  6        attorney or financial professional to find out what other options you

  7        may  have.  Do not delay seeking advice, because the longer you wait,

  8        the fewer options you may have.

  9        Under Idaho law, you have five (5) days to rescind  or  undo  certain

 10        contracts  or  agreements  that  relate  to transferring interests in

 11        property or money in a foreclosure situation. An attorney  or  finan-

 12        cial professional can tell you more about this option.".

 13        If  the trust deed, or any assignments of the trust deed, are in the Span-

 14    ish language, the written notice set forth in this section  shall  be  in  the

 15    Spanish  language on a form to be prepared and made available by the office of

 16    the attorney general.

 17        (4)  No action, suit or proceeding has been instituted to recover the debt

 18    then remaining secured by the trust deed, or any  part  thereof,  or  if  such

 19    action  or  proceeding  has been instituted, the action or proceeding has been

 20    dismissed.