Every state in the US has their own legal foreclosures process, some are judicial and others are non-judicial and some state make use of both these processes. In most instances the process doesn't vary a lot, but in the Connecticut foreclosure situation a judicial process take place and although short sales are becoming more popular, January figures indicate that not much has changed.Non-judicial foreclosures are allowed when the Deed of Trust is...more
Buying foreclosures wholesaleThe real estate market has taken a mighty turn for the worse. Foreclosures, short sales and banked owned properties are making up the bulk of sales in todays market. It was not long ago that real estate agents had the pick of the litter when it came to property listings. Properties would sell quickly, and we were in a sellers market just a few years ago.Today, all has changed and many Realtors have shifted gears. With...more
Economic times are tough and when it becomes difficult to maintain your current mortgage, defaulting on your monthly payment could bring about a foreclosure on your home. In fact, in the Las Vegas real estate market right now, 60% of the homes currently on the market are foreclosure homes. In different states across the country, there will be slight variations in the foreclosure process, but there is a general frequently used procedure to follow. You will first need to understand what foreclosure is, why and how it happens and who initiates the process. Foreclosure results if the owner of an establishment can no longer pay the principal or the interest of a loan. In this case, the property is seized and sold as a form of payment. Typically, after about 3 to 6 months of the home owner missing payments, the lender will order a trustee to send a Notice of Default or NOD. The NOD is the first legal notification that informs the borrower that he or she has not made their payments according to agreement and that the lender will foreclose unless the account is brought current. It will show the balance owing and possibly an estimate of legal fees. If you have not talked to a qualified...more
When your home is in pre-foreclosure, you need to know about deficiency judgments. Of course, the deficiency is the leftover debt after the home is sold, and the judgment part means that the court will formally order you to pay it back. Your state may not allow this, but several states support the lender's right to collect the rest of the debt.What...more
When thinking about acquiring foreclosure property there are some important considerations you need to take into account if you want the process to go smoothly; foreclosure law as it pertains to the particular state you are buying in; being able to inspect the property where possible and getting familiar with the foreclosure buying procedure itself...more
There is not anybody on Earth who enjoys the idea of losing their much loved dwelling to San Antonio foreclosure. And the truth that the economy is significantly too slow in its recovery and the real estate industry is still lagging nowadays; there are a lot of San Antonio real estate investors and homeowners who are fighting tooth and nail in order to keep their own houses, and with good reason. Because losing a house has a great deal of consequences on someone and all of them are adverse. Not only is the emotional and psychological effects that follow a foreclosure is quite disastrous, people with foreclosed homes also find it difficult to establish a stable credit score onwards. These are some of the few things that you should keep in mind when you first speak to a realtor in San Antonio.Under-going a San Antonio foreclosure also results in having very low home values San Antonio and one of the main reasons why a foreclosure occurs is because of delinquent mortgage payments. Usually property owners who fall behind on their mortgage payments seldom act quickly and quick enough to rescue their properties from foreclosure. This is worrisome especially when you consider the reality...more
If you can find lists of foreclosures that are the best in the industry, then you can secure your future as an expert in real estate foreclosure investing. Every day, thousands of properties are being foreclosed and placed on the market for sale to...more
Free foreclosure lists are one easy way to find discount houses. No matter if you are searching for fix and flip houses, rental properties or other good real estate investments, free foreclosure listings are great ways to start your search. When...more
Florida foreclosures and short sales are a new phenomenon in the Sunshine State, which has really seen nothing like the rate of foreclosure that it has over the last year or so. Keep in mind that Florida is extremely populous and that property and...more
In 2009, Minnesota foreclosures were above what was considered normal. However, there were some slight changes toward recovery within the year. The market however continues in a downturn for the worse. Average prices of homes went in the direction of...more
If you are in need of how to stop foreclosure, and you are in danger of losing your home through foreclosure you need to come up with a plan quick! If you are falling behind on your payments, and fear the next step is foreclosure you must act fast to...more
People flock to the state to sample the beauty of the big country. This busy tourist destination also has its abundant share of competitively priced foreclosures in Colorado. If you have had enough of the noise in small and overcrowded city, its time...more