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Archive for 'Foreclosure Basics' Category
What is an REO?
In Real Estate there is an old saying….everybody needs a place to live. Whether it be in a rental, a home you own, manufactured home, or trailer we all need somewhere to lay our hat. Because of that there are always ways to make money on properties no matter what the economic environment. Right now [...]
Types of foreclosures
After being late for 2 months sometimes as long as 12 months after the first missed payment the lender will start legal proceedings. A lawyer for the lender will send the borrowers a letter with the notice of default and give them a chance to cure the default by paying all the back payment plus [...]
Best ways of finding foreclosures
So how do we find these great deals? One website I’ve found is foreclosure.com. Being a Realtor I can use my MLS to see if the properties listed on there are current. Foreclosure.com is very up to date. There were only a couple of homes in my area that were NOT current and all were [...]