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by Jace Stolfo
on Monday, March 2nd, 2009 at 4:38pm.
The Idaho Housing and Finance Association (IHFA) will be spending $17,640,000 to purchase foreclosures throughout Idaho. The plan comes as a result of the Housing and Economic Recovery Act of 2008. The largest shares of the budget will be focused on foreclosures in Ada and Canyon County.
Why is IFHA purchasing Idaho foreclosures? The program will focus on buying foreclosures in zip codes that have been hit the hardest by the housing downturn. IHFA will purchase the homes for at least 15% below current market value, make repairs, and sell them at cost to low and and moderate income buyers.
How did they determine what areas to purchase foreclosures? IHFA used a federal database to determine the Idaho zip codes hardest-hit by foreclosures, sub-prime lending and delinquent loans.
What areas did IHFA determine had the most need?
1. Nampa 83687
2. Caldwell 83605
3. Nampa 83686
4. Nampa 83651
5. Meridian 83642
6. Caldwell 83607
7. Twin Falls 83301
8. Boise 83709
9. Kuna 83634
10. Post Falls 83854
Source: Idaho Housing and Finance Association
Are you looking for Idaho foreclosures? You can search Boise short sales, Meridian short sales, and Eagle short sales on my website. You also request a list of bank foreclosures in the Boise real estate market.
You can get the full details of the plan here.
Information not guaranteed.