subject: How To Find Profitable Foreclosure Listings [print this page] Many savvy investors know that real estate is a great place to invest your money especially if you focus on foreclosures. Since the economy took a nosedive and the housing market collapsed, there are countless foreclosures lining the market. These foreclosures can be purchased at a significant discount to repair, remodel and resell for a higher price. However, turning a profit on a foreclosure listing depends on knowing how to find profitable foreclosure listings.
Looking for Yourself
Finding a foreclosure on your own is time consuming and requires you to know exactly where to look and how to look. For example, few real estate agents are proudly displaying the latest foreclosure in the real estate ads often because foreclosures are investment properties that need work and are not in sell-ready condition. Instead, you have to scour newspapers for foreclosure auctions, visit banks to find out if there are any homes they are holding and look for public notices. The entire process is very time consuming, and failing to constantly search for listings could mean that youll lose the hottest property to another investor.
Get Foreclosure Listings
Another way of searching for a foreclosed property is by purchasing foreclosure listings through a company like CreditNowUSA. Instead of spending your gas money and precious time driving all over your city, CreditNowUSA can get your connected with all of the newest and hottest foreclosure listings in your market, right from the comfort of your own home. You get immediate access to a list of properties online, as well as helpful tips and advice from experts in the foreclosure market. CreditNowUSA even simplifies the process by offering you the contact information for the property, as well as the list price and any available photos of the interior and exterior of the property.
Once you find the foreclosure listing that is right for you, you can begin the process of making an offer on the home, purchasing it and fixing it up to live in or sell. The best part is you will have peace of mind in knowing that you picked the very best property for your needs, because you had access to multiple foreclosure listings in your area.
If you fall behind on your payments to a creditor, the creditor may turn your account over to a collection agency. Debt collectors working for the collection agency will begin to call you, and they may even threaten to garnish your wages. Even though you did not originally borrow the money from the debt collector itself, it still has the power to garnish your wages in most states.
To legally garnish your wages, debt collectors must file a lawsuit against you and obtain a judgment from the court that allows them to employ such extreme collection practices. After the debt collector obtains the judgment from the court, you will typically have one more chance to pay the amount in full. If you cannot afford to pay or you choose not to do so, the debt collector can go back to the court and obtain a court order to garnish your wages. It is up to the court to decide whether to grant the order.
If a debt collector is able to obtain a court order for garnishment, he will submit the order to your employer. When your employer receives the court order, the law requires him to comply. However, only a limited portion of your wages are subject to garnishment. The exact percentage a debt collector can take depends on state law.
For more information, go to Foreclosure Listings at http://www.creditnowusa.com/Foreclosure-Listings
