Murrieta Foreclosures Information

Murrieta California is one of the areas hard hit by the housing crisis

. Many people are losing their homes and lenders are losing large sums of money. Lenders lose an average of about $58,000 when they foreclose on a property and we all know lenders are not in the business of losing money. This presents an opportunity for a home owner to modify their mortgage and stay in their home or for an investor to buy the property in the pre foreclosure process.

Murrieta foreclosures is a challenge faced by many residents every year from all walks of life. Rich, poor, young, old, no one is immune. Hard times can fall on anyone regardless of background or standing in life.

Foreclosure is public information and anyone is able to access the Murrieta foreclosure listings. The information provided includes owner's name and address, the lender and mortgage information. It is possible for you to receive a barrage of people contacting you offering to help and save your property but you must be careful and avoid losing your home in a scam. There are some legitimate companies and individuals that can help save your property from foreclosure and you should do your due diligence.

For investors Murrieta Foreclosures presents an incredible opportunity because properties can be purchased for 35 to 50% of what they were sold for at the height of the Real Estate boom. And with so many people not able to qualify for a mortgage due to strict lending guidelines, there is a lot of people who are in need of rental properties. In fact, many people are walking away from homes because the mortgage is simply not affordable and they are renting a home like the one they walked away from for half of what they were paying.

Recent Murrieta Foreclosures:

42731 Mountain Shadow rd:current price $299,000 this home was originally purchased for 670,000 in 2005

27157 white alder ct: current price $354,497 this home was last purchased for 506,000 in 2004.

24240 Calle Artino: valued at 450,000 in 2007 it is now for sale at 330,000. This is also a foreclosed property in Murrieta.

As an investor this is a good opportunity because you are providing a service. If the property remains abandoned it will bring down the property values in the neighborhood even more, so it is in everyone's best interest that the property is occupied.

The Murrieta area was growing very quickly and a lot of new homes were built. It is very possible that the homes available are not more than 5 years old and in some cases some may not even have been lived in.

by: jelani simba khalfani

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