Idaho foreclosure filings rose by 20 percent to 1,860 in August from the previous month, though they were still 36 percent below filings in August of last year, according to RealtyTrac, a national market-research company.
The filings are based upon notices of default, trustee sales and bank repossessions. Notices of default numbered 707, trustee sales totaled 881 and bank repossessions, 272.
More than half of Idaho's filings were in Ada and Canyon counties — 628 and 397 respectively.
Charlie Nate, president of IdahoDataProviders.com, a Treasure Valley business that also tracks foreclosure filings, wonders whether the rise might be a result of efforts to beat a Sept. 1 deadline. That's the day a new Idaho homeowner's protection law took effect.
The Idaho Attorney General's Office says the law requires mortgage lenders to inform homeowners in default about their right to ask for a loan modification review. It allows homeowners to request a meeting with their lenders to discuss foreclosure prevention options.
The law also requires lenders to notify homeowners whether they qualify for a loan modification within 45 days of a modification request. Lenders may not proceed with a trustee’s sale during the 45-day period.
Homeowners also must receive written notice of the date and time of a future trustee’s sale if a scheduled sale date is postponed.
Sandra Forester: 377-6464
