Foreclosures show decline

Foreclosures are falling.

That's according to RealtyTrac, which this week released its Midyear 2011 Metropolitan Foreclosure Market Report that shows foreclosure activity decreased on a year-over-year basis in 178 out of the nation's 211 metropolitan areas with a population of 200,000 or more.

The report also shows that all top 10 metro areas with the highest foreclosure rates in the first half of the year posted decreasing foreclosure activity compared to the first half of 2010.

"Foreclosure activity continued to slow in the first half of 2011, especially in the most foreclosure-saturated markets and in markets where the judicial foreclosure process is used," said James J. Saccacio, chief executive officer of RealtyTrac.

According to the ReatlyTrac report, 5,536 homes in the Boise/Nampa area were in some stage of foreclosure during the first six months of 2011. That amounted to 2.20 percent of all homes, or one in every 45 households.

For those in Idaho facing mortgage woes, there is help.

Emergency Homeowners' Loan Program funds are available through the Idaho Housing and Finance Association to assist qualified unemployed or underemployed families make their mortgage payments for up to 24 months by providing zero-interest, forgivable loans.

Already $3,116,000 EHLP funding has been allocated in loans across Idaho and 76 Idaho homeowners were able to keep their homes and avoid foreclosure.

"We have a lot of homeowners who could use something like this provided they qualify," wrote Loretta Hartman, broker/owner with North Idaho Real Estate.

The U.S. Department of Housing and Urban Development (HUD) announced the $13 million home saving program for Idaho on April 1.

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