Six out of every ten home sales in the Treasure Valley are distressed sales, many of which are Bank Owned properties, otherwise known as REO’s. When thinking about purchasing an REO there is a lot a prospective buyer should consider. To find out whether a bank owned property feels right for you, check out Real Estate ABC for more information.
There is new program available for home buyers seeking to purchase a home in the Canyon County, Idaho area called the Neighborhood Stabilization Homeownership Assistance Funds Program or NSP. NSP is a government program that provides additional funds to qualified buyers in an effort to help rehabilitate communities and neighborhoods who have been hit the hardest by foreclosures. NSP funds are only available on the purchase of a foreclosed home and you must be planning on occupying the residence. You may be eligible to borrow up to $40,000 on the purchase of a qualified home with which to use for the cost of repairing the home, down payment and/or closing costs.
Visit the IHFA website for more information @ www.idamortgage.com
If there is anything else I can do to help you out, feel free to contact me!
