January 5, 2009

• Check Out Short Sales

  A short sale falls between a regular sale and a foreclosure sale. A home listed for short sale has a motivated buyer for many potential reasons. One such reason is that the home could be in pre-foreclosure, which means the vendor needs money quickly; otherwise they will lose their home.
  In a case like this, [...]

December 28, 2008

• Potential Drawbacks of Buying A Foreclosure Property

  Perhaps you’ve heard about the potential benefits of buying a foreclosure property. A great deal can be the biggest pro possible resulting in thousands or even tens of thousands of dollars in cost savings. But are there cons to buying a foreclosure building? Sadly, yes.
  Cons of Foreclosure Properties
  1. Perhaps the unit isn’t yet vacant. [...]

December 21, 2008

• Foreclosure Information - What’s a Trustee Sale?

  A trustee sale can often be an auction where property owned or in the name of someone either bankrupt or deceased is sold. A trustee is responsible for selling items to recoup costs to lenders.
  In terms of real estate, this is also called a sheriff’s sale. If you know about sheriff’s sales, you [...]

December 14, 2008

• Facing Foreclosure: What’s the period of redemption?

  Banks, trust companies and various lenders all have different terms set in your mortgage about how many payments you can miss before there’s a foreclosure. There is no set number that’s an industry standard because lenders can list their own terms but the most common answer to this question is: two payments.
  In many cases, [...]

December 8, 2008

• Why Do So Many People Lose Their Homes To Foreclosures?

  Foreclosures are a rising problem in many areas. A lot of things can cause people to lose their homes.
  • Lost jobs• Medical problems• Mounting credit cards and other debts• A mortgage that is too high
  The above are the top reasons why foreclosures are happening so often. It’s so important that when you plan [...]

November 30, 2008

• Is There Such A Thing As Foreclosure Rescue?

  Foreclosure rescue services are advertised on TV and on the internet as well as in newspaper classifieds to encourage people to ask for help when they face losing their home due to mortgage arrears.
  Are mortgage rescue services legit?
  There are many services out there that will legitimately help you with your problems. Some services are [...]

November 23, 2008

• Facing Foreclosure - Ways Out at the Last Minute

  If you are worried that you’ll lose your home to foreclosure, it’s important that you act quickly. If it’s now the eleventh hour and you’re desperate to save your home, there are some things you can do to try to stop the foreclosure process.
  • Talk to your lender and see if you can have an [...]

November 16, 2008

• Facing Foreclosure - Tips For Dealing With Your Lender

  If you are in a difficult financial position and fear that you are at risk for having your mortgage foreclosed, it’s vital that you communicate effectively with your lender. Here are a few tips for dealing with your lender so you can hopefully save your house:
  1. Communicate early. Don’t wait until your situation [...]

November 9, 2008

• Preventing Foreclosure On Your Home - Choose The Right Lender

  Having a great mortgage is important. You want terms you can live with, a competitive interest rate and to have flexibility if at all possible. Foreclosure is a scary word to someone who owns a home or is considering buying a home but keeping the worst-case scenario in mind when buying a home is [...]

November 2, 2008

• Preventing Foreclosure On Your Home - How Much Home Can You Afford?

  Whether you’ve arrived here because you’re looking to stop foreclosure on your own home or because you want to save money by buying a foreclosed home, the best way to maximize your investment is to buy a home that you can afford.
  Just because a bank qualifies you for a specific amount on your mortgage, that [...]

October 26, 2008

• Buying a Foreclosure Home - Tips to Find Listings

  When you’ve decided that you’re going to look into buying a foreclosure home, you might not know how to find foreclosure listings. Most realtors don’t list these on their websites in abundance or specialize in this type of home listing because the realtor is out to make as much money as they can. Because [...]

October 19, 2008

• Buying a Foreclosure Home -Tips to Save Money

  Saving money is an important factor when buying a house. It doesn’t just cost you the down payment and mortgage payment but there are a lot of other costs to factor in as well including your closing costs, appraisal fees, inspection fees and many other things including land transfer taxes and moving expenses. When you [...]

October 13, 2008

• Benefits of Foreclosure Buying – A Quick Closing

  Beyond the financial benefit of a foreclosure purchase, another benefit is the ability to have a quick closing. Unlike waiting for a thirty, sixty or even ninety day closing date, foreclosures can allow you to move in quickly.
  If the home isn’t in move-in condition, this can be especially helpful. The sooner you can get [...]

October 5, 2008

• FSBO: For Sale By Owner Pre-Foreclosure Deals

  FSBO bypasses realtors and stands for “for sale by owner”. For sale by owner pre-foreclosure deals are another way to save money when looking for a house or property. Sometimes people are lining up to buy foreclosure deals, which can create a bidding war among interested parties. A solution to this problem is to [...]

September 29, 2008

• Saving Money - Buying a Fixer Upper

  One of the benefits of foreclosure homes is the financial benefit. There is big money to be saved on a home that’s discounted because the previous owner defaulted on their mortgage payments. Something to consider is a fixer upper house
  When a home is not in the best cosmetic condition, you can save even more money [...]

September 21, 2008

• Tax Arrears Sales of Property

  A tax arrears sale can be a great way to pick up property on the cheap. Sadly, many people lose their property due to unfortunate circumstances and the government could sell the property for the default amount owning which could be a fraction of the worth of the property.
  Flipping properties in this manner can [...]

September 14, 2008

• Equity Stripping – Pros and Cons

  If you’re looking to rescue your home from foreclosure, equity stripping might help you. This is something that can save you in several ways:
  1. You get some money out of your house2. You don’t get dinged with foreclosure on your credit rating3. You can live in your house as a renter and not have to [...]

September 7, 2008

• Buying Foreclosure Properties as an Investment

  Whether you look into government foreclosures or other foreclosures as an investment property you could save substantial money. Sadly the number of foreclosures and personal bankruptcies happening are through the roof but the availability of properties for cheap could work to your financial benefit.
  Foreclosure properties can make great rental properties
  When you pick up a [...]

August 31, 2008

• Benefiting From Foreclosure Auctions

  If you want to buy a new home to live in or an investment property, you can save a significant amount of money by buying a home that has been foreclosed. A foreclosure auction can allow you to save thousands off the cost of the home if it were on the regular market.
  How do you [...]

August 24, 2008

• Home Shopping Errors That Can Lead To Foreclosure

  Foreclosure is a four-letter word to those shopping around for their home or who have recently bought a property. There are things you can do before you buy to reduce your chances of foreclosure.
  Buying more home than you can afford is the number one reason for a foreclosure. Just because the bank approves you [...]