The Hidden Cost of Foreclosure in Alberta The Hidden Cost of Foreclosure in AlbertaFirst, let’s put this all in perspective. In a recent interview, CAAMP president Jim Murphy indicated that "5% of all [U.S.] households are actually in foreclosure, while here in Canada households … only 0.28 percent of mortgages are in arrears in Canada.” Great news for the vast majority of Canadians, and directly attributable to a much more robust...more
Most people get a foreclosure and bank owned or REO property mixed up. There is big difference between the two, especially when you are buying investment property. The process of purchasing a foreclosure is different from the process of purchasing a REO.Foreclosures are one option when buying investment property. A foreclosure is a property that has been through the foreclosure process. The lender has given the homeowner a notice of default. A...more
Foreclosure Property Investment Foreclosure property investment offers a way to purchase at an under valued price and resell it for a profit later. Let us try and understand how you can benefit by investing in foreclosed property. Before going into the particulars, it is important to understand what foreclosure means. Well, foreclosure refers to a legal process through which a creditor can enforce a clause in the mortgage document and sell the property in order to realize the amounts due to him. In the event of any excess money being left over, it is given back to the previous owner.Before making any foreclosure property investment, it is necessary to learn more about it and at the same time look around your neighborhood for a good deal. As a potential investor, you need to know that in certain states the law allows the original owner of the property up to six months time from the date of default in order to recover his property from the creditor. Thus, if you are looking to make investments out of your state, make sure that you find out about the existing foreclosure laws of that state.Once you have gained some basic knowledge about foreclosures, it is time to put that to...more
Breeze Through Your Foreclosures Search The foreclosures search is in reality a daunting task if buyers would conduct this task on their own. The high volume of foreclosures in the market is the exact reason why searching for a good home becomes challenging. There are so many options to choose from that the buyer is left overwhelmed. What...more
In this tough economic crisis many are experiencing in the summer of 2010, bad things are happening to good people. The "real" unemployment rate has been around 20% for over a year, and is not projected to fully correct itself to pre-recession numbers until 2014. Expenses, such as taxes, health insurance, gas, and medical bills, are escalating to...more
Foreclosures in San Francisco: What Buyers Want to See Most investors know very well that foreclosures in San Francisco present profitable opportunities. With the rate of foreclosures steadily increasing the market is ripe for prospective buyers. The challenge for sellers of foreclosed property is standing out as there are multitudes of foreclosed properties in the market that are just as good.A little tweaking here and there can spell the difference between a home that will generate interest and one that will probably sit in the market for a while. The secret to ensuring the sale of foreclosures in San Francisco is in preparing the homes for viewing and inspection. Ultimately buyers will only decide to purchase a property once they themselves have seen it. What they see will clinch the deal or at least lead them to making a decision. It is crucial though that prospective buyers like what they see and it is the seller's duty to ensure that this is the case.Sellers should repair small imperfections in the home like a broken door knob some undone roof shingles and other cosmetic damages that can be an eyesore for buyers. These repairs do not really cost a lot and can be done...more
In a sign that justice could soon be sought by homeowners who have foreclosure problems with Lender Processing Services (LPS), several third-party probes have found out that the companys legal woes are far more serious than it had previously...more
With the many investment opportunities in the foreclosures market today, it should not come as a surprise the growing number of individuals looking into these repossessed properties. Of course, to be successful, the trick is to make sure you find a...more
4 common questions regarding the 2nd wave of Foreclosures Is it true, is there actually a 2nd wave of foreclosures coming? I've heard about it coming for months but it has yet to arrive. Well it is coming. Some banks are holding back...more
GMAC has recently announced the resumption of its activities involving Maine foreclosures. The lender is one of the banks that have already started to resume foreclosures not just in the state, but also in the entire US. The resumption was mainly...more
“They” are not talking about it: Commercial Foreclosures Are About to Peak in Michigan. Get Ready For a Short Sale Boom!It’s a double edge sword. For everyone out there on the brink of foreclosure there is someone dreaming of owning...more
Homebuyers who are very mindful of the prices of properties are more prone to getting attracted to properties that have been repossessed by banks. Elgin foreclosures, and other similar homes in various countries around the country, can be a source of...more