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Short Sales and Foreclosures

Foreclosure Log home 10 acres river frontage, pond Sandpoint Idaho

HUD foreclosure. Log home on nearly 10 acres with 490′ the Pack River running through it!

Expansive views of Schweitzer from every room. Home built above the flood plain with a trails that lead to the river. Open and airy floor plan with gorgeous large logs, vaulted ceilings, open kitchen with breakfast bar, wood stove and hardwood floors throughout. Large 30 x 28 shop is insulated with 220 service, pasture for horses, fruit trees, seasonal ponds.


Foreclosure for sale

Best deals in Real Estate Nice Hud foreclosure in Spirit lake

This one makes the best deals list only $120,000!!!!   This 4 bedroom 2 bath built in 1995 on .52 acre is a #HUD foreclosure. 2 car garage, forced are heat, propane and not even on the mls yet.  I sold the house 4 doors down and it appraised for $210,000 Want to grab this great deal call me at 208-610-0011 for a showing.  This sits behind the high school on the edge of town.  Walk to spirit lake close to Spirit lake shopping.




Great real estate Deal

HUD foreclosure



Large Living room

Large Living room

Call Rain Silverhawk of Keller Williams 208-610-0011 to see this HUD FORECLOSURE home today!

Best Deals $53,000 3 bedroom 2 bath basement, garage on .45 acre in Clark Fork Idaho


See the bank owned auction listing at 204 Railroad Clark fork Ave 83811

$53,000 3 bedroom 2 bath basement, canning / utility room, formal dining, basement, garage on .45 acre in Clark Fork Idaho


This is now a bank owned property to be sold at auction on Feb 10, 2014.

Bright and roomy 3 bed 1.75 bath, magnificent hardwood floors, updated kitchen and baths. Unfinished daylight basement and shop, deck off master suite with mt views. Lot is large enough to split. Circular drive, Nice big yard, apple trees. Quiet street on edge of town with city winter snow maintenance.

  •  REALHome Services & Solutions

Virtual tour when lived in




Listing by by Scott at REALHome Services & Solutions

3 bedroom 2 bath 2 car garage Short sale $150,000

Quality built warm and inviting 3 bedroom 2 bath home with 2 car garage on .54 acres. Bamboo flooring knotty pine doors and trim, natural gas stove. Large fenced back yard with a deck to enjoy the mountain views quiet county maintained road in desirable neighborhood at the base of Schweitzer. Short sale $150,000


Fannie Mae over pricing homes by 20 percent Sign the petition

 specialize in short sales and about 6 months ago all I my Fannie Mae short sales (Even the approved ones) were coming back with values way above market price.  I found that this has been going on across the nation.

Fannie Mae admits to demanding 20% more than market value for short sale properties – forcing homeowners into foreclosure. They then offer the properties to the public on their website at 20% above market value and will give a federally sanctioned Fannie Mae bad loan for this price if the buyer “takes advantage” of not paying for an appraisal. These are the type of manipulations which destroyed the property market. As a federal bailout, Fannie Mae should be forced to act ethically and responsibly or they should be shut down.


Sign the Petition to stop Fannie Mae from over pricing properties


Mortgage debt relief act extended

For those of you in a facing a foreclosure, principle reduction,   deed-in-lieu of foreclosure,  or short sale. on your home, the debt forgiveness act of 2007 has been extended for another year.

Under the IRS tax code forgiven debt was treated as income subject to federal income tax.  Homeowners who get their mortgage debt forgiven through a short sale, deed-in-lieu or loan modification will not be taxed on the debt forgiven on the amount forgiven up to $2,000,000. 

On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” The bill was signed into law by President Barack Obama on Jan. 2.  Below is a summary of real estate related provisions in the bill:

Real Estate Tax Extenders

•       Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014

•       Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012

•       15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012

•       10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012 Permanent Repeal of Pease Limitations for 99% of Taxpayers Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers.  These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000.  These thresholds have been increased and are indexed for inflation and will rise over time.  Under the formula, the amount of adjusted gross income above the threshold is multiplied by 3 percent.

That amount is then used to reduce the total value of the filer’s itemized deductions.  The total amount of reduction cannot exceed 80 percent of the filer’s itemized deductions.

These limits were first enacted in 1990 (named for the Ohio Congressman Don Pease who came up with the idea) and continued throughout the Clinton years.  They were gradually phased out as a result of the 2001 tax cuts and were completely eliminated in 2010-2012.  Had we gone over the fiscal cliff, Pease limitations would have been reinstituted on all filers starting at $174,450 of adjusted gross income.

Capital Gains

Capital Gains rate stays at 15 percent for those in the top rate of $400,000 (individual) and $450,000 (joint) return.  After that, any gains above those amounts will be taxed at 20 percent.

The $250,000/$500,000 exclusion for sale of principal residence remains in place.

Estate Tax

The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax.

After that the rate will be 40 percent, up from 35 percent.  The exemption amounts are indexed for inflation.

BofA 2,500 to 30k in short sale relocation funds

Short Sale Relocation Assistance Program:
Bank of America to offer $2,500 to $30,000 in relocation assistance
 If you currently have a Bank of America mortgage and would like to short sale your home to avoid foreclosure, you may received relocation funds.Bank of America has announced that for a limited time, they are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 – $30,000* in relocation assistance and owe no more on their mortgagewith the sale of their property. Don’t miss this limited-time offer to get help with your distressed property by initiating a preapproved price short sale today.  Contact  Rain Silverhawk for more information. 

Determining eligibility is easy:

  • Once I initiate the short sale.  Bof A will evaluate the homeowner for this offer quickly to determine if they qualify for the enhanced relocation assistance.
  • The homeowner must participate in one of the preapproved price short sale programs, such as HAFA (Home Affordable Foreclosure Alternatives) or Bank of America’s proprietary program. Specific investor participation and eligibility criteria do apply to these programs.

Have an active preapproved price short sale? Don’t worry.

Bank of America is reviewing all current, in-process preapproved price short sale agreements to determine who is eligible for this limited-time offer.  Eligible homeowners actively participating in a preapproved price short sale program (such as HAFA or Bank of America’s proprietary program) will receive a letter if they qualify for the additional relocation assistance.  The relocation assistance will be paid at closing.

Frequently Asked Questions:

QQ: Can the relocation assistance funds be used to pay off existing liens?

A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses.


Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives?

A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive.  For example, if the homeowner is eligible for a $5,000 homeowner incentive, $3,000 will be from the HAFA incentive, and $2,000 will be from the homeowner incentive.


Q: Is the enhanced relocation assistance available for other programs?

A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer. However, as we gauge the success we may extend this incentive to other programs.

Homeowners  may call 1-208-610-0011 to speak to Rain Silverhawk  about this exciting limited-time preapproved price short sale program offering.


*The relocation assistance payment is calculated based on the appraised value of the homeowner’s property. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, which includes but are not limited to the following: a full walk-through appraisal must be completed and the homeowner must satisfy all junior liens and provide clear title for the property (the relocation assistance payment can be used to clear those liens). The short sale must close by September 26, 2013.

Short sales may become shorter.

I never hold my breath when it comes to new short sale legislation, it was announced today that 5 of our biggest financial institutions have agreed to some new conditions for short sales.

Here are some of the new requirements for servicers under Attorneys General foreclosure settlement

  • Servicers must provide borrowers with a decision within 30 days after receiving a short sale package request. 
  • Servicers will be required to notify a borrower, also within 30 days, if any necessary documents are missing to process the short sale request. 
  • Servicers must notify a borrower immediately if a deficiency payment is needed to approve the short sale. They also must provide an estimated amount for the deficiency payment needed for the short sale. 
  • Servicers are also required to form an internal group to review all short sale requests. 
  • Banks will be considered in violation of the settlement requirements if they take longer than 30 days on more than 10 percent of the short sale requests. Violations can carry fines of up to $1 million and $5 million for repeat offenses. for listings
Rain Silverhawk Realtor
Sandpoint Realty
223 North First Ave. |  Sandpoint, ID. 83864
Phone (208)  610-0011  FAX 208-265-5641 

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