Murrieta California is one of the cities in Southern California devastated by the housing crisis
. Many have lost their homes and banks have lost huge amounts of money. When a lender forecloses on a property they lose an average of about $58,000. A lender would rather keep a home owner in their property or short sell it to an investor so that the process is not a total loss. Contrary to popular belief, lenders are not in the business of keeping Real Estate on their books, their focus is on the monthly interest payment that each property generates. This is where the lender profits in a Real Estate transaction.
Foreclosures in Murrieta are at an all time high and is a challenge faced by residents from all walks of life. Hard times can fall on anyone regardless of their origin or standing in life.
Foreclosure is public information and anyone is able to access listings of Foreclosures in Murrieta. Foreclosure information includes the name of the owner, address of the property, and the mortgage information. If you're an investor you can use this information to further your efforts to purchase the property before it is foreclosed on. As the homeowner it is almost certain that you will be contacted by a lot of people that say that they can help you and save your property, but be careful. There are a lot of scams in which a home owner can be cheated out of their home. But there are legitimate companies and individuals who can help save your property from seizure and you should do your due diligence.
Foreclosures in the Murrieta area can be a good opportunity for investors because of a surplus of vacant homes that can be purchased for up to 50% of the original purchase price. Banks have tightened their lending guidelines so it is very hard for people to get a mortgage in the current climate. This has increased the number of people who need a place to rent. A cash investor can profit greatly by buying low, renting out the property and simple allowing the equity to grow over time.