Understanding Foreclosure

In short, a foreclosed property is one that is seized and listed for sale by the homeowner's lender. Any home with a mortgage has what's called a lien on it. The lien is the part of the mortgage contract that grants a lender the power to take possession of a residence after the homeowner stops paying the mortgage.

Reference Title 6, Chapter 1 of Idaho's Foreclosure of Mortgages and Other Liens here

Idaho Home Foreclosures

Real estate data solutions company ATTOM Data reports Idaho's home foreclosures rank 43 of out of 50 nationally. As of August this year, 78 of the Gem State's 751,859 homes have been listed by housing lenders. Put another way, our state's foreclosure rate is currently one per 9,639 homes. For added perspective, our neighbor to the east, Montana, ranks 44 out of 50 with a foreclosure rate of one per 10,094 homes.

Shoshone County, Idaho

From highest to lowest, Idaho counties with the greatest number of foreclosures per residence are: Shoshone, Washington, Fremont, Nez Perce, and Benewah. As of this year, Idaho's Shoshone County has 31 homes in foreclosure status.

But out of all of Shoshone County's foreclosures, just one charmer caught our eye. Listed at $74,950, the two-bedroom, two-bathroom property is 849 square-feet of darling potential! Located at 376 2nd Street in Mullan, this cozy home is planted within one of Idaho's smallest cities with a population of just 782 residents. Inside and out, this property can be a passion project or taken as is.

Check out the benefits of living in Mullan, Idaho here!

Scroll on for a gallery of this charming little home looking to find a forever family! Is it you?

[SOLD] $74,950 Foreclosed Home For Sale In One of Idaho's Most Beautiful Cities

Shoshone County's cutest foreclosure is looking for its forever family!

Gallery Credit: Ryan Valenzuela

Just Listed: Here's What 1.5M Gets You In Idaho, Utah, Washington & California

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Gallery Credit: Ryan Valenzuela

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