{"id":10731,"date":"2012-09-13T06:00:58","date_gmt":"2012-09-13T12:00:58","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=10731"},"modified":"2012-09-13T09:30:35","modified_gmt":"2012-09-13T15:30:35","slug":"in-one-year-idahos-foreclosure-rate-posts-a-60-percent-drop","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2012\/09\/13\/in-one-year-idahos-foreclosure-rate-posts-a-60-percent-drop\/","title":{"rendered":"In One Year, Idaho&#8217;s Foreclosure Rate Posts A 60 Percent Drop"},"content":{"rendered":"<div id=\"attachment_10733\"  class=\"wp-caption module image left\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"A year ago, Boise resident Carmel Crock talked to StateImpact about the painful experience of losing her home in a short sale.\" href=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2012\/09\/IMG_0019.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-10733\" title=\"Carmel Crock\" src=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2012\/09\/IMG_0019-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/stateimpact.npr.org\/idaho\/files\/2012\/09\/IMG_0019-300x225.jpg 300w, https:\/\/stateimpact.npr.org\/idaho\/files\/2012\/09\/IMG_0019-620x465.jpg 620w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Molly Messick \/ StateImpact Idaho<\/p><p class=\"wp-caption-text\">A year ago, Boise resident Carmel Crock talked to StateImpact about the painful experience of losing her home in a short sale.<\/p><\/div>\n<p>Idaho&#8217;s foreclosure rate was the fifth highest in the nation when housing data provider RealtyTrac released its numbers at this time a year ago.\u00a0 At that time, John Starr of Collier&#8217;s International gave a folksy, downbeat description of the local foreclosure problem.<\/p>\n<p>&#8220;You can\u2019t swing a dead cat without hitting somebody who has been personally affected or has a family member or an acquaintance who has been affected,&#8221; he said.\u00a0 <!--more--><\/p>\n<p>Now, the news is different.\u00a0 RealtyTrac&#8217;s <a href=\"http:\/\/www.realtytrac.com\/content\/foreclosure-market-report\/us-foreclosure-market-report-august-2012-7381\" target=\"_blank\">August numbers<\/a> are out this morning, and Idaho&#8217;s foreclosure rate is 18th in the nation, with one out of every 935 housing units experiencing some sort of foreclosure filing within the month.\u00a0 That means the state&#8217;s foreclosure rate has declined by more than 60 percent over the last year, RealtyTrac says.<\/p>\n<div class=\"related-content alignleft\"><h4 class=\"related-header\">Related<\/h4><div class=\"links\"><h5>Posts<\/h5><ul><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/idaho\/2012\/06\/07\/investors-and-new-homebuyers-square-off-in-boises-fierce-housing-market\/\">Investors And New Homebuyers Square Off In Boise\u2019s Fierce Housing Market<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/idaho\/2012\/04\/12\/little-by-little-idahos-hard-hit-housing-market-begins-to-revive\/\">Little By Little, Idaho\u2019s Hard-Hit Housing Market Begins To Revive<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/idaho\/2011\/10\/25\/in-the-wake-of-foreclosure-a-debt-that-wont-die\/\">In the Wake of Foreclosure, a Debt That Won\u2019t\u00a0Die<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/idaho\/2011\/10\/12\/in-idahos-depressed-housing-market-dueling-dreams\/\">In Idaho\u2019s Depressed Housing Market, Dueling Dreams<\/a><\/li><\/ul><\/div><div class=\"topics\"><h5>Topics<\/h5><p class=\"topic\"><a href=\"\"><\/a><\/p><\/div><\/div>\n<p>Its <a href=\"http:\/\/www.realtytrac.com\/content\/foreclosure-market-report\/us-foreclosure-market-report-august-2012-7381\" target=\"_blank\">report<\/a> attributes the improvement to the fact that Idaho is a nonjudicial foreclosure state. That means lenders don&#8217;t have to prove in court that the borrower is in default.\u00a0 Nonjudicial foreclosure states are sometimes characterized as less protective of borrowers than states relying on a judicial foreclosure process, but they also appear to have worked through their foreclosure problems more rapidly.<\/p>\n<p>Gavin Gee, Director of the Idaho Department of Finance, remarked at a foreclosure intervention workshop in August that he believes Idaho is wise to be a nonjudicial foreclosure state.\u00a0 &#8220;You don&#8217;t have the backlog of foreclosures that you see in states where it&#8217;s a judicial process, and courts are clogged with other work and the process tends to drag out,&#8221; he explained.<\/p>\n<p>Illinois &#8212; a judicial foreclosure state &#8212; posted the nation&#8217;s highest foreclosure rate last month, the first time the state has had that unwelcome distinction.<\/p>\n<p><em>StateImpact Idaho<\/em> is nearing its first anniversary, and some of our earliest broadcast stories focused on Idahoan&#8217;s experiences in a troubled housing market.\u00a0 Those stories are available <a title=\"In Idaho\u2019s Depressed Housing Market, Dueling Dreams\" href=\"http:\/\/stateimpact.npr.org\/idaho\/2011\/10\/12\/in-idahos-depressed-housing-market-dueling-dreams\/\">here<\/a> and <a title=\"In the Wake of Foreclosure, a Debt That Won\u2019t\u00a0Die\" href=\"http:\/\/stateimpact.npr.org\/idaho\/2011\/10\/25\/in-the-wake-of-foreclosure-a-debt-that-wont-die\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Idaho&#8217;s foreclosure rate was the fifth highest in the nation when housing data provider RealtyTrac released its numbers at this time a year ago.\u00a0 At that time, John Starr of Collier&#8217;s International gave a folksy, downbeat description of the local foreclosure problem. &#8220;You can\u2019t swing a dead cat without hitting somebody who has been personally [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":10733,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[40,46],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/10731"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/comments?post=10731"}],"version-history":[{"count":0,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/10731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media\/10733"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media?parent=10731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/categories?post=10731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/tags?post=10731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}