Foreclosure Help

'Pulse on America' Show to Feature SaveMeFromForeclosure.com -- Foreclosure Prevention Service to Save One's Home

PTG Studios announced the selection of SaveMeFromForeclosure.com for its innovative, educational television series, Pulse on America. The company will be featured in a segment on "Avoiding Home Foreclosure" as part of a series on Family Finance.

Deerfield Beach, FL (PRWEB) January 9, 2007 -- PTG Studios is pleased to announce the selection of SaveMeFromForeclosure.com for its innovative, educational television series, Pulse on America. The company will be featured in a segment on "Avoiding Home Foreclosure" as part of a series on Family Finance.

helping the homeowner keep their home
One of the most ominous situations that can happen to any American family is when, because of a life circumstance (losing a job, health emergency, family problem, etc.), one can no longer pay the mortgage. Owning a home is the foundation of the "American dream" and a basic need in America; one's pride is often based on maintaining a residence, and it protects the safety and privacy of one's family.

Now there is somewhere to turn: SaveMeFromForeclosure.com specializes in helping clients who have fallen behind on their mortgage payments or are facing foreclosure. Originally launched in 2004, the family-owned and -operated company has grown into an international firm with local representatives throughout the United States and Canada.

www.SaveMeFromForeclosure.com lays out homeowners' options in two main categories: "helping the homeowner keep their home" or "helping the homeowner sell their home fast." This format provides homeowners easy-to-understand solutions to saving their home and their credit. Additionally, homeowners can immediately contact their local representatives who can personally explain the pros and cons of each solution and help them determine their best course of action for stopping or avoiding the foreclosure.

"As foreclosures across the country hit all-time highs, it is important that we find ways to help individuals who find themselves in this situation. At SaveMeFromForeclosure.com, we provide homeowners options and help them choose the right solution to fit their individual needs," said Justin Lee, CEO of www.SaveMeFromForeclosure.com, LLC. He continued, "No other company helping individuals facing foreclosure is providing all of these solutions under one roof. When individuals are facing foreclosure, time is not on their side. They need information quickly and assistance in making the right decision on what to do to halt a foreclosure. Understanding the positives and negatives of each potential solution is a key differentiator that SaveMeFromForeclosure.com provides its clients."

Additionally, www.SaveMeFromForeclosure.com offers direct access via their new website to credit repair services, and they operate a daily foreclosure blog that offers homeowners valuable information on foreclosures, credit repair and what they can do to prevent a foreclosure.

For more information, you can visit www.SaveMefromForeclosure.com, LLC's website.

For more info on foreclosures visit.
www.theforeclosures.com
and
www.ForeclosureSources.com

Foreclosures in California

East Bay Business Times - 4:31 PM PST Friday
Foreclosure activity up in California
Foreclosure activity in California was up 15.6 percent in the last three months of 2005, according to a report released on Thursday.
Lending institutions sent 14,999 default notices to California homeowners during the October-to-December period, according to Dataquick Information Systems.
That was up 19 percent from the third quarter, and up 15.6 percent from 2004's fourth quarter.
All regions of the state saw an increase in foreclosure activity, ranging from 10.5 percent in the Bay Area to 19.6 percent in Southern California.
Contra Costa County saw a 13.4 percent increase, while Solano County saw a 25.3 percent increase. Alameda County, however, saw a 6.7 percent decrease.
Dataquick said foreclosure activity hit a low during the third quarter of 2004 when 12,145 default notices were recorded. Defaults peaked in 1996's first quarter at 59,897.
"There's always going to be a certain amount of financial distress. People lose their jobs, have medical emergencies, get divorced, pass away or make bad money decisions at a certain rate. Because of the rise in home values, much of that financial distress has been covered by the increasing amount of equity that people have had in their homes. That equity is now being created at a slower pace, and default activity is inevitably on the rise," said Marshall Prentice, DataQuick president, in a statement.
The annual home appreciation rate in the state hit 22.8 percent during the second quarter of 2004. Since then it has come down and in fourth-quarter 2005 it was 14.5 percent. The appreciation rate is expected to fall below 10 percent sometime this summer.
The median amount owed when the default notice was recorded was $6,862 in fourth-quarter 2005, up from $6,130 for the same period a year ago.
Dataquick said that only about 5 percent of homeowners who find themselves in default actually lose their homes to foreclosure. Most are able to stop the foreclosure process by bringing their mortgage payments current, or by selling their home and paying the home loan off. © 2006 American City Business Journals Inc.

If you are interested in buying Foreclosures:
visit: www.TheForeclosures.com and www.ForeclosureSources.com

Who goes online for Real Estate?

Who goes online for Real Estate? A consumer profile
Who are the people that turn to the internet to find a home? This is valuable information about the audience you should go after! We should mention that this report is a couple of years old, but we believe it’s holding up pretty well:

Age - 28 percent are 25-34 years of age; 28 percent are 35-44 years of age.
Education- 88 percent attended college: 33 percent have graduated and 20 percent hold a postgraduate degree.
Marital status - Almost 70 percent are married and 8 percent are divorced. Nearly 62 percent do not have children.
Personal interests- 42 percent are interested in gardening, 33 percent are interested in home repair and renovation, and 16 percent are interested in landscaping.
Intent to move - Nearly 38 percent anticipate moving within the next year.
First-time home buyers - Approximately 25 percent have purchased their first home, or plan to buy their first home, in the next 12 months.

Negotiating A Sale Tip

THE NEGOTIATION PROCESS

When you find the home that best meets your needs, you are ready to make an offer on the house. In most cases, your real estate agent will present your offer to the seller. Do not be discouraged if the seller rejects your first offer. It is not uncommon for the seller to make a counter-offer.

Once both the buyer and seller have agreed upon the selling price, a purchase contract is started. In most cases, your real estate agent will help you negotiate the terms of the purchase contract. The purchase contract is a legal contract that details the final terms for the purchase of the home including price, closing date, and estimates on the closing costs. By signing the purchase contract, it means you have agreed to purchase the property under the negotiated terms and price. Although some closing cost fees are required by law, you can negotiable others as part of the purchase offer.

Who pays for what? There are no definitive rules on who pays which closing costs. The buyer and the seller usually negotiate who pays certain closing costs. For instance, the seller may be willing to negotiate full or partial payment of appraisal fees, loan points, credit report request, and inspection fees. Usually the seller is responsible for the brokerage fees, as this is compensation to the real estate agents for their role in the sale of the home.

“Earnest Money” is typically required as part of the purchase contract, earnest money provides a "good faith" deposit and secures the sales agreement. This deposit is usually a portion of the purchase price. This deposit shows that the buyer is serious about purchasing the house. Earnest money is held in an escrow account for the buyer and can be applied toward the down payment or closing costs. In some cases, the buyer must pay the deposit in cash.

The Tao Gal's Guide to Real Estate

Great book on buying and selling real estate.

Check it out.



The Tao Gal's Guide to Real Estate : Finding the House of Your Dreams with the Helpf of Six Women and the Ancient Art of the Tao (Paperback)
by Bernadette Murphy, Michelle Huneven

Book Description

At last, a readable, entertaining, and practical real estate guide—the perfect companion for women intent on buying a home.

Once a week, six women living in Los Angeles meet to read from the Tao te Ching and reflect on their lives. One subject arises over and over: the dream of owning a home. One by one they take on the real estate market. They discover, among themselves, great reservoirs of expertise and experience that keep them sane—and laughing—along the way. Now, the Tao Girls want to share that expertise and experience with women who find themselves similarly confused, frustrated, or disappointed.

The Tao Girl’s Guide to Real Estate offers a way to keep your head through it all, to eliminate that sense of helplessness, overwhelming tension, and emotional fatigue so often a part of finding a home. In telling their lively and often amusing personal stories, the Tao Girls also deliver a terrific dose of practical advice for buying any house—from the smallest condo to a suburban family dream house.

Foreclosure.com Adds Fresh Content

Foreclosure.com Adds Fresh Content That Helps Subscribers Make Smart Property Purchase DecisionsTuesday December 20, 1:57 pm ET

State-Specific 'Foreclosure Laws' and 'How To Buy Foreclosures' Offer Helpful Tips

BOCA RATON, Fla., Dec. 20 /PRNewswire/ -- Foreclosure.com today announced the addition of "Foreclosure Laws" for each of the 50 states, including the District of Columbia and Puerto Rico, as well as detailed information on "How to Buy Foreclosures," to its industry-leading Web site.
"Foreclosure laws differ from state to state and a step-by-step process on how to buy these properties is hard to find," said Brad Geisen, president, Foreclosure.com. "We've gathered all of this information and made it available conveniently in one place on our Web site."

Leveraging the new 'Foreclosure Laws' section, a subscriber to Foreclosure.com can now easily access information that directly impacts his or her purchase of a foreclosed property in a particular state/territory, including:

-- How trust deeds/mortgage liens are treated
-- How mortgages are foreclosed
-- The legal instruments that establish a mortgage
-- The amount of time it takes to foreclose a property
-- If right of redemption exists in a state
-- Whether or not deficiency judgments are permitted
-- The statues the govern a particular state's foreclosures

The new "how to" instructional information helps a subscriber who is unfamiliar with how to buy a foreclosure get started. Whether it's in the preforeclosure or auction stage of the foreclosure process, detailed steps on how to purchase a property prior to it becoming Real Estate Owned (REO) are now offered on the Web site.

In addition, this "how to" section contains the primary method of mortgage foreclosure for each state and the length of time it takes to foreclose on a property in the state, as well as a comprehensive glossary of key industry terms to provide further clarification of the process.

"We want our subscribers to get the most out of the more than 1.3 million residential real estate market opportunities available on our Web site," said Geisen. "The state laws and detailed procedures provide our subscribers with the resources they need to make successful foreclosure purchases."

About Foreclosure.com
Based in Boca Raton, Florida, Foreclosure.com delivers the most comprehensive, up-to-date database of residential foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings in the United States to its customers and business partners through its cost-effective, Web-based subscription service. Through the company's work with hundreds of the top lending institutions and government agencies, Foreclosure.com has access to the nation's largest inventory of residential foreclosure real estate, including Real Estate Owned (REO) properties; Department of Housing and Urban Development (HUD); Department of Veterans Affairs (VA); Fannie Mae; and other government agency and financial institution properties; as well as listings from an extensive network of corporate sellers. On the Net: Foreclosure.com - start your foreclosure research and education today.

Foreclosure.com

Foreclosure Mass

Foreclosures in Mass. rise 35% through OctoberHome mortgage foreclosure filings are rising in Massachusetts according to a report showing a 35 percent increase statewide through October. Filings in suburban Reading more than tripled and increased 113 percent in Lawrence compared with the same period last year, according to Land Court filings tracked by Framingham-based ForeclosuresMass. The number of foreclosures filed through Oct. 31 was 9,459, compared with 7,003 in the same 10-month period last year, the report said. Essex County had the largest increase, at 50 percent. Among the state's three largest cities, Worcester had the largest increase with 52 percent, while filings were up 42 percent in Boston, and 20 percent in Springfield. (AP)

Don't miss great deals on foreclosures inn Massachusetts.
1. ForeclosuresMASS - Foreclosures in Massachusetts Description/Information - Reviews - *****

October Exiting-Home Sales Show Markets Cooling

October Exiting-Home Sales Show Markets Cooling
WASHINGTON (November 28, 2005) – Sales of existing homes eased in October with a moderate decline in both single-family and condo sales, according to the National Association of Realtors .Total existing-home sales – including single-family, townhomes, condominiums and co-ops – were at a seasonally adjusted annual rate1 of 7.09 million units in October, down 2.7 percent from September’s pace of 7.29 million. Sales were 3.7 percent above the 6.84 million-unit level in October 2004.David Lereah, NAR’s chief economist, said markets are getting into better balance between demand and supply. “We are returning to more balanced markets between home buyers and sellers, one that places buyers on a more even footing. Housing activity has peaked and is coming down a bit, and we expect further cooling in the coming months. We feel confident that housing is landing softly as rates continue to rise.”The national median existing-home price2 for all housing types — including single-family, townhomes, condominiums and co-ops — was $218,000 in October, rising 16.6 percent from October 2004 when the median price was $187,000. The median is a typical market price where half of the homes sold for more and half sold for less.Total housing inventory levels rose 3.5 percent at the end of October to 2.87 million existing homes available for sale, which represents a 4.9-month supply at the current sales pace.“The rise in inventory means that buyers will have a wider choice available to them, and the significant price appreciation over October last year shows that demand is still there, as markets continues to balance themselves,” said NAR President Thomas M. Stevens from Vienna, Va. “Buyers know that housing is a good investment,” said Stevens, senior vice president of NRT Inc. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.07 percent in October, up from 5.77 percent in September; the rate was 5.72 percent in October 2004.View Existing Home Sales DataSingle-family home sales dropped 2.5 percent to a seasonally adjusted annual rate of 6.23 million in October from 6.39 million in September, but were 3.3 percent above the 6.03 million-unit level in October 2004. The median single-family home price was $216,200 in October, up 16.6 percent from a year ago.Existing condominium and cooperative housing sales fell 4.4 percent to a seasonally adjusted annual rate of 862,000 units from a pace of 902,000 in September. Last month’s sales activity was 6.7 percent above the 808,000-unit level in October 2004. The median condo price3 was $229,800, up 15.3 percent from a year ago.Regionally, existing-home sales fell 1.2 percent in the West in October to a pace of 1.64 million, and were 3.8 percent higher than October 2004. The median price in the West was 316,000, up 16.2 percent from October 2004.Total existing-home sales in the South declined 1.8 percent to an annual sales rate of 2.76 million units in October, and were 7 percent above October 2004. The median price in the South was $196,000, up 18.1 percent from a year ago.Existing-home sales in the Midwest fell 1.9 percent to annual pace of 1.58 million units in October, and were 1.3 percent higher than a year ago. The median price in the Midwest was $170,000, which was 10.4 percent higher than October 2004.Total existing-home sales in the Northeast declined 7.4 percent to a pace of 1.12 million units in October, and were unchanged compared to a year ago. The median existing-home price in the Northeast was $252,000, up 10.5 percent from a year ago.The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.
# # #1The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns.Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 percent of total home sales, are based on a much larger sample – nearly 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.2The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns.3Because there is a concentration of condos in high-cost metro areas, the national median condo price is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.Existing-home sales for November will be released December 29. The next Pending Home Sales Index will be on December 6 and the forecast will be revised December 12.

Foreclosure Trends October 2005

Foreclosure Trends October 2005
Re-Listing of HUD Properties in Southern States Results in New Foreclosure Increase BOCA RATON, Fla., Nov. 8 /PRNewswire/ -- According to data released todayby Foreclosure.com, 87,794 foreclosed residential properties were availablefor sale in the United States during October -- almost unchanged fromSeptember. The total number of new foreclosures listed for sale in October --21,998 -- increased eight percent from September. The re-listing of available U.S. Housing and Urban Development (HUD)-ownedproperties in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana,Mississippi, Oklahoma, South Carolina, Tennessee and Texas, resulted in theincrease of new foreclosures in October. By September 29, HUD identified allthe properties it would set aside for the victims of the storm and started re-listing inventory on October 6. For the remaining areas of the country, therewas less than a one percent increase in new foreclosures from September toOctober. "Foreclosure levels in the U.S. remain low compared to the beginning ofthis year," said Brad Geisen, president and CEO, Foreclosure.com. "While thereare still pockets of increasing inventory in the Midwest and Northwest,foreclosure levels in most of the country have remained flat during the pastsix months." Foreclosure Inventory in South Remains Affected by Hurricanes Some states in the southern region of the United States such as Florida,Georgia, Mississippi, Oklahoma, Tennessee and Texas, showed a significant risein the amount of new foreclosure listings in October. However, the totalforeclosure inventory in these states stayed flat or decreased from Septemberto October. Foreclosure inventory in these states remains below pre-hurricanelevels. In Louisiana and Alabama, foreclosure inventory remains very lowbecause of the federally mandated moratorium on new foreclosures in disasterareas. "Foreclosure inventory in the south will be affected by the hurricanes forat least the remainder of the year as the government continues its reliefefforts and displaced residents continue to move back into the area," saidGeisen. "We anticipate a higher than normal buyer demand for foreclosedproperties in the south, which will keep the total inventory levels low untilthe end of the moratorium period."

Earn huge profits by investing in properties that scare off most other investors!

It's time for another Edition of Real Estate Money-Making Hot Tips.
November 2, 2005
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Earn huge profits by investing in properties that scare off most other investors!
www.PropertyForeclosure.com
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by Lance Young
Independent Real Estate Investor
Dear victor,
Recently I visited a friend who lives in a rural part of New England. Even though her area is beautiful and prosperous, there are no less than seven abandoned houses within a three-mile radius of her home.
Two of these houses are owned by a bank that just can't seem to straighten out the paperwork to get rid of them, some are waiting to be auctioned by the town for back taxes and others were inherited by distant relatives who are too busy in their lives as a soccer mom or big-city office worker to put them on the market.
It got me thinking about how opportunities to profit from these situations can be found just about everywhere.
Here's a story from a customer in Philadelphia who learned how to invest in abandoned property:
I began on this journey on a full time basis in January and just got my first deed to a property. It was a textbook case. Vacant property in the foreclosure process, owner who had abandoned the property is living in New Mexico and had to be tracked down (unlisted phone number, etc.) and best of all, she turned over the deed for $100 just to be done with the whole thing.
My investor and I will realize about $20,000 each upon sale after all expenses are taken care of. Not bad for a first deal!!!'
B. Davis, Philadelphia, PA
You can easily do the same, step by step.
Here's what Mr. Davis did.
1. He found a preforeclosure house by using the methods outlined in my course.
2. He contacted the homeowner by tracking her down in New Mexico. The course describes numerous ways to easily find homeowners who have abandoned their houses.
3. Next, Mr. Davis called the homeowner and found that she would be happy to sell her house. In fact, like many homeowners, she had abandoned the house and was going to let it go to auction. She told Mr. Davis that she would be happy to sell the house to him for a fraction of its value. The course includes information on how to negotiate with homeowners like this one.
4. By following the steps in the course, Mr. Davis found an investor who put up all the money for the deal.
Mr. Davis used NONE of his own cash! The investor and Mr. Davis immediately resold the house for its full value. They split the profit 50/50 and made $20,000 each.
victor, wherever you live, there are properties like this. All you need is 10 hours a week and the know-how you get with my easy-to-follow courses.
Find out more:
www.PropertyForeclosure.comUntil next time,
Lance Young
Author & Investor
www.PropertyForeclosure.com

Real Deals At Foreclosure Auction

Real Deals At Foreclosure Auction
Posted by: Claudine Ewing, Reporter
Created: 10/25/2005 5:48:18 PM
Updated: 10/25/2005 5:56:05 PM
People from as far away as New York City cashed in on homes sold at the city of Buffalo's auction.A home on Lafayette was on the list because the owner failed to pay $3,000 in garbage user fees. The house ended up selling for $13,000. The new owner, Edwina Oliver, told 2 On Your Side "no place else can you get a deal for this price."

Protest at Foreclosure Auction....

Demonstrators Protest Outside Foreclosure Auction
WBEN Newsroom - Monday, October 24, 2005 01:26 PM

Buffalo, NY (WBEN) - The City of Buffalo put hundreds of properties on the auction block this morning. Many of them homes of residents who were delinquent in paying their property taxes, garbage fees, and water bills. While proceedings began inside the Buffalo Convention Center, outside a group of demonstrators spoke out in defense of those who could soon find themselves out on the street.

Gwen Neil was on the city's foreclosure list until recently. She tells Newsradio 930 WBEN her family helped her, but not everyone's so lucky. Kathleen Chandler says many of those at risk are families with small children and seniors.

The protesters are urging the city to put a halt to the auction and give property owners more time to pay their bills.

Foreclosure Buying Process

What's Next?
Once you’ve identified a property that is of interest, simply follow the steps below to keep the process moving forward.


1. Get Financing
When purchasing a foreclosure property, saving time is critical. If you are pre-qualified with a lender, you’re able to move more quickly to buy properties at auction or from individuals in pre-foreclosure.
>>More Details


2. Contact The Owners
Be the first – and perhaps only – person to contact the owners directly. We offer a postcard program that, for a nominal fee, puts you in direct contact with the property owners. The postcard is a friendly note that conveys your interest in buying the property. And, since the cards don’t mention foreclosure or trustee sale, they are set apart from bill collector and legal mailings.
>>More Details


3. Contact The Agent
Many people prefer to have a real estate professional contact the owner and negotiate on their behalf. Your name, contact information and contact preferences will be sent to the agent. You’ll also be sent the agent’s name and contact information.
>>More Details


4. Evaluate The Property
Use our online tools to help you estimate property value, liens and repair costs. Our tools enable you to check comparable sales, check the MLS for comparable listings, identify liens and calculate a deal summary.
>>More Details
www.PropertyForeclosure.com

Foreclosure Homes up to 50% off market rates

 
 

3 Tips on Foreclosures

Real Estate: How ordinary folks earn profits with preforeclosure homes

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Welcome New Subscribers! It's time for another Edition of Real Estate Money-Making Hot Tips.
www.PropertyForeclosure.com
August 24, 2005
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In this Edition:

- Ordinary people all across the country are
making big profits with Preforeclosure and
Probate houses! You can too!


by Lance Young
www.PropertyForeclosure.com
Independent Real Estate Investor

Want to know two ways you can make money in real estate using $10 of your own money?

Here they are:

1. Preforeclosure Houses: You can buy a house directly from a homeowner BEFORE the bank has a chance to foreclose.

Once you have a contract with the homeowner to buy the house, you can quickly resell your contract to another investor for a huge cash profit! This means that investors will pay you thousands of dollars for your contracts! Best of all, this can be done using $10 of your own money.

2. Probate Houses: A probate house is a house that someone has inherited.
Surprisingly, many people inherit houses that they do not want. Many of these people are willing to sell the house at a very low price.
Making money with probate houses can also be done using $10 of your own money.

You can use both of these methods to make very large profits the same way many of my students are doing all across the country.

Remember:
- You do NOT need good credit
- You do NOT need a real estate license

All you must have is a $10 deposit for the contract you will sign with the homeowner.
Once you have a signed contract, you can quickly and easily "flip" the house to someone else!

Don't worry about who will buy your contracts from you. I'll show you how to find investors who will buy as many good deals as you can find!

Each of these methods can make you a lot of money. Most new investors spend years going through the school of hard knocks, wasting their precious time and energy. However, some of the smarter folks learn how to make great money in real estate a much easier way. How do they do this? They do it by making sure they get first-class information right from the start.

All of the information in my courses has been updated for you to use in TODAY'S real estate market. I am presently an active real estate investor, and I make most of my income using the exact same methods found in my courses.
Now you can do the same!

Learn how to make money quickly, easily
and safely. Forget spending thousands of dollars on expensive seminars. You don't need them. My courses are complete and written for beginners. There is absolutely nothing else for you to buy.

Here's why these courses will save you a lot of time AND money:

Many investors look for preforeclosure houses by going to their local courthouse. They spend hours doing this and come away feeling frustrated and mentally exhausted.

Well folks, there's a much easier way to do this. I'll teach you how to do it from your kitchen table in less than 10 minutes a day!
You can relax in your favorite easy chair and spot preforeclosure houses while less informed investors are at the courthouse wading through stacks of boring documents.

With these courses, you get everything you need to get started your FIRST DAY and make huge profits with preforeclosure and probate houses. I'll make sure you don't make the mistakes that most beginners make.

Making huge profits with preforeclosure and probate houses is easier than most people think when you have the right information to begin with.

Complete details at http://www.propertyforeclosure.com.





Subject line: REAL ESTATE: Real Estate Investor Hits $77,300 Payday

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Welcome New Subscribers! It's time for another Edition of Real Estate Money-Making Hot Tips.
July 28, 2005
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In this Edition:

Finally! PropertyForeclosure.com's author reveals his secrets: 'How I made $77,300 on ONE house and how YOU can too!'


by Lance Young
www.PropertyForeclosure.com

I want to share a secret with you. Many people do not realize that over 70% of my income comes from making money with preforeclosure and probate houses. In other words, I practice what I preach. I don't just help other people make money in real estate. I am doing it myself!

I know many of you do not have money to
finance your real estate deals. Some of you have credit that's not that great. That's okay because my courses show you easy ways to find investors in your local area who will use THEIR MONEY for YOUR deals in exchange for one-half of the profit.

Now that you know you can find out how to get the money for your deals, how would YOU like to learn how to earn over $75,000 in a few months on ONE house? Let me tell you how I did it and how you can too!

I found a property that the owner wanted to sell right away. I knew the house would be worth $300,000 if I had it fixed up.

My VERY low offer of $152,000 was accepted by the homeowner because he could not afford to keep the house and it needed a lot of repairs.

I went to my local bank and asked if I could borrow $150,000. My banker said he would loan me $120,000. I now had a problem. I did not have ANY MONEY at the time because I had my money tied up in another deal. I was getting ready to lose one of the best deals of my life!

So what did I do to get the money for this deal?
Well, I borrowed $27,000 on my credit cards and scraped together a few thousand more from friends.
I now had enough money to acquire the house.
Was this risky? I didn't think so. Not when I had just paid $152,000 for a house that would soon be worth $300,000!

Now I had another problem. I had to find money to get the house fixed up. I approached some friends who had their money sitting in a Money Market account drawing 2% interest. I told them that if they would loan me $20,000 I would give them 12% interest. My friends knew that they would get the house if I didn't pay them, and they agreed to make the loan. Now I had enough money to get the house fixed up.

But wait! The fixup costs ran over $20,000!
I asked the contractor who fixed the house up if he would wait until the house sold before I paid him. To make him happy, I offered to pay him and extra 10% above what I owed him. He was very happy to wait an extra month or two in exchange for 10% more money.

Guess what? Only ELEVEN hours after I had a real estate agent put the house up for sale, it sold for the full asking price of $300,000! Today's real esate market is so good that there were TWO people who wanted to buy the house!

Several weeks later, I went to settlement and picked up a FAT CHECK! My total profit was $77,300.

Do you think this was a risky deal? If so, let me give you two other ways you could have done this deal using very little, or NONE OF YOUR OWN MONEY.

#1: Find an investor who will put up ALL of the money on the deal in return for one-half of the profit.
YOU would earn over $38,650 for finding a good deal like this one and you would not use ANY of your own money. Do you think there are plenty of people in your area who would love to make a fast and easy $38,650 on a real estate deal? You bet there are and I'll show you how to find them!

#2: Another way to to do this without using any of your own money is to take your contract to buy the house for $152,000 and quickly resell it to an investor for $20,000 or $30,000 more than you agreed to pay for the house! How many people do you think would like a $300,000 house for $172,000 or $182,000?
Don't worry if you don't know someone who would buy the house because I will teach you how to locate local investors who will buy as many good deals from you as you can find!

These simple techniques are laid out clearly and completely for you in my courses. You get everything you must have to make big money in real estate. There is absolutely nothing else to buy.

Have you ever thought about the type of house you could afford to live in with your family when you make this kind of money?

And don't forget, once you learn these
easy-to-use secrets, you will NEVER pay full price for a house again!

After several good deals, maybe you would keep a house like the one I just told you about.

Don't sit there while others are out there living their dream. Your success is just a mouse-click away!
www.PropertyForeclosure.com.

Here is what you get with these real estate courses:

-How To Buy Preforeclosure Houses For Big Profits -How To Make Big Money With Probate Houses -How To Buy Bank Repossessed Houses For Big Profits -How To Make Big Money At Foreclosure Auctions

You also get a FREE bonus booklet (a $20 value) if you act right away! The bonus booklet is entitled, 'How To Buy Property Liens For Pennies On The Dollar And Cash Them In For Full Value'.

Act now, because as you sit there thinking about it, other people are out there making tens of thousands of dollars using my methods -- and they are doing it in their own neighborhoods!
www.PropertyForeclosure.com





Real Estate: How to make a fortune in real estate using only $10 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Welcome New Subscribers! It's time for another Edition of Real Estate Money-Making Hot Tips.
November 12, 2004
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

In this Edition:

- How you can turn $20 into $8,500 in 15 days --
the exact SAME way I'm doing it

www.PropertyForeclosure.com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
How to make a fortune in real estate using only $10 of your own money!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Ordinary people all across the country are making large profits with preforeclosure AND probate houses! You can do the same thing.

What are they doing and how can YOU do
the same thing?

1. You can get a house before the auction, directly from the homeowner. Then you can quickly resell it to other people for large, cash profits. This method only takes $10 of your own money!

2. You can get houses dirt cheap from banks that have gotten stuck with them. Banks can be very eager to sell their foreclosure houses at low prices. Once foreclosure investors get a house at a dirt-cheap price, they can sell them quickly to other investors, or they fix the properties up and sell them for full value on the open market. Either way, they make fantastic profits because they are able to get houses at absolute rock-bottom prices.

3. Probate houses are often better than foreclosure houses when it comes to making money. Many people inherit houses and don't want them. They will take the first low offer that comes along. YOU will know how to be the person who makes that low offer and walks away with tens of thousands of dollars in pocket -- using just $10 of your own money.

Complete details about these easy-to-use, money-making courses at:
www.PropertyForeclosure.com

Each of these methods can be very
profitable to you -- if you know how to go about it.

Most new investors spend years
going through the school of hard knocks, wasting their precious time and energy.
However, some of the smarter folks learn how to make great money with preforeclosure and probate houses a much easier way. How?
By making sure that they get first-class information right from the start.

You get cutting-edge investment techniques that show you how to make money with preforeclosure and probate houses in today's real estate market.

You get information on how to make money quickly, easily and safely.

You get courses are complete and written for beginners. There is absolutely nothing else to buy.

I've heard of people paying $3,000 for the SAME information at a weekend seminar.

Here's an example of how these courses
will save you a lot of time, headaches and
money:

Many investors look for preforeclosure houses by going to their local courthouse. They spend hours there and come away feeling frustrated and mentally exhausted.

Well, there's a much easier way. I'll teach you how to find preforeclosure houses from your kitchen table in less than 10 minutes a day. That's right. You can relax in your favorite easy chair and spot preforeclosure houses while other, less informed, investors are out at courthouse, wading through stacks of boring documents.

You get everything you need to get started now and make huge profits with preforeclosure houses. I'll also make sure you don't make any of the mistakes other beginners make.

Making huge profits with preforeclosure houses is easier than most people think -- if you have the right information to begin with.

How to avoid falling in a foreclosure sinkhole

How to avoid falling in a foreclosure sinkhole

October 16, 2005

BY SUZETTE HACKNEY
FREE PRESS REAL ESTATE WRITER



The initial advice all credit counselors give to homeowners facing foreclosure is


"When you find yourself in a hole ... stop digging."


Good advice, considering that more than 6% -- or 86,380 -- of Michigan's mortgages have been past due so far this year, according to the Mortgage Bankers Association of America. And the state's foreclosure rate is 50% higher than the national average.


Why so many here? Financial experts cite three principle reasons:


•Midwest residents in general, and Michigan residents in particular, are struggling financially because of the loss of many high-paying manufacturing jobs, including those in the auto industry, said Doug Duncan, senior vice president and chief economist for the bankers association.


"The single most important determinate of delinquency is lack of job growth," Duncan said.


•Some homeowners facing foreclosure overextended themselves by taking advantage of looser credit restrictions, the combined buying power of two incomes and creative financing products to buy more house than they can afford in the long term. Often, when one of the breadwinners is laid off or faces a health crisis, there is not enough cash flow to meet mortgage commitments.


•Metro Detroit is unlike many other metropolitan areas where housing markets are booming and home prices are shooting through the roof. In metro Detroit, home values rose less than 1% during the past year to a median price of $151,000. But in states like Florida and California, and areas like Chicago and Washington, D.C., housing values appreciated as much as 40% in the past year. If homeowners in those markets were to sell a house, they would make a small fortune. Those profits effectively serve as a ladder to allow the homeowners to climb out of the debt hole they've dug -- even if they are carrying multiple home equity loans.



Enabling a fall
Mike Shannon is a Realtor and foreclosure specialist with Re/Max Preferred in Dearborn Heights. He handles foreclosure sales for more than 60 banks in southeast Michigan.


He acknowledges that the state's stagnant economy and the struggling auto industry are driving the high number of foreclosures, but he also cites poor consumer decisions, such as lack of budgeting and overspending, for the problem. Another culprit, Shannon said, is the prevalence of sub-prime lending programs -- those that help borrowers with bruised credit obtain mortgages at higher interest rates -- and no-money-down, interest-only mortgages.


"The leniency in lending leaves people in jeopardy, especially when they're doing 100% financing -- using 80% as the primary mortgage and a 20% equity line," he said. "It really becomes a problem if that financing is based on a two-person income household and something happens."


Those who have sub-prime loans or creative financing often struggle to make payments as the terms adjust and payments increase over time. Most often the process of foreclosure begins when a homeowner misses three mortgage payments and the loan is considered in default. Most delinquencies and foreclosures occur early in the life of the mortgage and peak at the period between 3 and 5 years.


Nationally, 10% of subprime borrowers are late with their mortgage payments, while 3% of all sub-prime borrowers are in foreclosure, according to the mortgage bankers group. In Michigan, nearly 16% of sub-prime borrowers are delinquent and 9% are seriously delinquent or in the foreclosure process.


Federal Reserve Chairman Alan Greenspan said late last month that he is becoming increasingly concerned about the way Americans are buying homes. Greenspan, speaking via satellite to the American Bankers Association convention in Palm Desert, Calif., said interest-only mortgages, 40-year mortgages and ARMS -- adjustable-rate mortgages that permit borrowers to decide how much to pay, how long the loan term should be and when they can convert between a fixed rate and a variable rate -- are troublesome.


"These products could be cause for some concern both because they expose borrowers to more interest-rate and house-price risk than the standard 30-year, fixed-rate mortgage and because they are seen as vehicles that enable marginally qualified, highly leveraged borrowers to purchase homes at inflated prices," Greenspan said.


"In the event of widespread cooling in house prices, these borrowers and the institutions that service them could be exposed to significant losses," he said.


Still, Tim Ross, president of Ross Mortgage Co. in Royal Oak, said many of the creative products were designed for home purchasers who had unique circumstances and could manage the mortgages effectively, such as individuals who received a bonus at a certain time of year.


As these products became more available, he said, they were used widely for people who just needed to qualify for financing. And that's when the problems started.


"The real issue today is not about being able to qualify for the financing. The issue is an inability to accumulate the money for a down payment or closing costs," Ross said. "That is why these products have appeal to many. There are hundreds of products out there and available through us. Using them has more to do with your goals, your situation and your lifestyle. We talk to our clients about making a smart choice."



Saving the house
David Trott, managing partner of Trott & Trott, a Bingham Farms law firm that represents banks during the foreclosure process, said lenders want to avoid foreclosure at all costs because "it's the right thing to do, both altruistically and economically."


"We represent every major bank in the country," he said. "Every bank has a loss mitigation or homeowner assistance department. The whole point of those units is to help people stay in their homes. These lenders absolutely do not want to foreclose. Foreclosure is a loser for them. They will always lose money.


"It's difficult to convince people that their mortgage lender is not like other creditors, and there's really a big incentive for the lender to work with the borrower," he said. "If you get behind with Visa or another credit card company, they play hardball because they don't have any good solutions. Mortgage lenders have a lot of options."


City officials across the country are recognizing the benefits of working with people who are trying to save their homes. This spring, the City of Detroit formed a partnership with nonprofit community groups and mortgage lenders to establish a help line for those in danger of defaulting on their mortgages. Called Detroit Home Ownership Preservation Enterprise, or HOPE, program officials set a goal to help 500 homeowners in the first year set up action plans to avoid foreclosure. Assistance includes contacting lenders, employment resources and credit counseling. The service is available anytime by calling 888-995-4673.


Shannon, the Dearborn Heights Realtor, said many people fail to adjust to a new home and mortgage payments before they start racking up credit card and other debt. He recommends a stringent budget for any new homeowner.


"If you go in many of these houses in foreclosure, you're going to find new furniture, you're going to find big-screen TVs with cable, you're going to find newer cars, a BMW and Lexus in the driveway," Shannon said. "What these people don't realize is that they were upside down from day one. They've gotten into the house with less than 3% down, and sometimes they're putting no money down at all. They've even rolled the closing costs into the mortgage.


"Even if they wanted to sell to get out of a bind they can't, because they owe more than they have equity," he said. "It was all a disaster from the beginning."


Contact SUZETTE HACKNEY at 313-222-6614 or hackney@freepress.com.

Foreclosures and Section 580b

What is the rule?
If a house sold in foreclosure fetches less than what's owed on the mortgage, Section 580b of the California Code of Civil Procedure bars lenders from seeking cars, stocks and other assets to make up the difference. This protection applies only to ``purchase'' mortgages used to buy the house -- not refinanced loans.

What happens if I refinance?
Lenders can go to court to pursue other financial assets to make up the difference, or ``deficiency.'' They can attach liens good for 10 years, then renew them.

Who is most at risk?
• Financially stretched home buyers who are counting on refinancing interest-only loans and other exotic mortgages before higher monthly payments kick in.
• Homeowners who lack sufficient insurance to cover devastating losses from earthquakes, landslides and natural disasters.
• Homeowners who refinance to shore up their finances but later lose their homes in foreclosure.

by: Victor Caballero
Mercury News

HomeBuilder.com Appoints VP

HomeBuilder.com Appoints VP
Westlake Village-based HomeBuilder.com, the official web site of the National Association of Home Builders, said that it has added a VP of Sales to its team.

Eric Gramberg has been appointed Vice President of Sales for the site, which is operated by Homestore.

Gramberg managed real estate advertising at the Los Angeles Times and Orange County Register.

The HomeBuilder.com site provides a directory of new home builders and new home communities.

by: victor caballero
www.theforeclosures.com

Foreclosure Overview

Foreclosure Overview

What is Foreclosure?

Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files a public default notice. The foreclosure process can end one of four ways:
The borrower/owner pays off the default amount to reinstate the loan during a grace period determined by state laws. This grace period is also known as pre-foreclosure.
The borrower/owner sells the property to a third party during pre-foreclosure. The sale allows the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history.
A third party buys the property at a public auction at the end of pre-foreclosure.
The lender takes ownership of the property, usually with the intent to re-sell. The lender can take ownership through an agreement with the borrower/owner during pre-foreclosure or by buying back the property at the public auction. These are also known as bank-owned properties.
The foreclosure process represents three bargain-buying opportunities.

Pre-Foreclosure (NOD, LIS):
Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property. The borrower/owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to research the title and condition of the property and can realize discounts of 20-40 percent below market value. More about pre-foreclosures

Auction (NTS, NFS):
If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however, a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner. More about auctions

Bank-owned (REO):
If the lender takes ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction, the lender will usually want to re-sell the property to recover the unpaid loan amount. The lender will probably make sure the title is clear for any buyer, but the potential bargain is typically less than a pre-foreclosure or auction property. More about REOs

Before you buy
You'll need to make sure you're armed with the resources you'll need to buy foreclosed properties. Find out more about buying resources.



Additional Information:
Foreclosure Laws by State
Foreclosure Buying Library
Frequently Asked Questions
Mortgage and Financing FAQ
Preventing and Stopping Foreclosure
Real Estate & Foreclosure Glossaries

Searching for properties outside the MLS

My Story...
By Bradley

Hello and welcome to my blog. This is a post regarding being a home buyer, I wanted to inform you about a wonderful service I used as a resource to purchase homes.
My most important lesson in buying a home was that homes are being sold all the time which are not part of the MLS system. The MLS system is used by real estate agents to share information about homes they are in contract to sell for the owner. Even though this is an advantage, it is a disadvantage for someone who wants to know about all homes they can buy. For example, what most real estate agents cannot help with are FSBO's, New Construction, Foreclosures, and Bank Owned Properties.
Why? Because they will not make a commission telling or showing you these homes. Seller is not obligated to pay a commission and their is no commission incentive for the agent.

FREE Foreclosure Property Search - Join Now It's FREE!

So how can you know about all these other homes you can buy?

Some of the stories you will hear about:
Thankfully, there is a website I came across months ago which helped me buy a home directly from a seller who was not able to afford paying their mortgage payment. They had lost their job, credit was ruined and could not refinance their loan and pull out money. They were in desperate shape. I know who that feeling is so I knew what they were going through. Though they did not want to talk to me at first, I was later able to save them from having their home foreclosured on and able to get their equity out for them buy buying at a little below market value. I knew that once the lender foreclosed their equity would dissapear and it was nothing to let go of.

FREE Foreclosure Search - Join Now It's FREE!

They are now renting locally and are on track to pay off their debt and start to rebuild their lives. These are good people and did not deserve to be in this type of situation. We are still friends. Lets face it, sometimes bad things happen to good people and this was one of them.

Here is the site, I want you to check it out. You can sign up for free.

FREE Foreclosure Search - Join Now It's FREE!

TheForeclosures.com

This launched and has reviews of the leading foreclosure sites.
TheForeclosures.com

Foreclosure Sites

Below are some of the more popular sites for search foreclosures and information regarding foreclosures and the process.

RealtyStore.com - NEW Reviews - Rating

ForeclosureFreeSearch.com Reviews - Rating

ForeclosureNet.Net Reviews - Rating

www.Bargain.com Reviews - Rating

RealtyTrac.com Reviews - Rating

ForeSaleByOwner.com Reviews - Rating

CRNHome.comReviews - Rating

Keywords

Some keywords you might use to find foreclosure listings:

Bank Forclosure, Bank Forclosure List
Bank Forclosures, Bank Forclosures Listings
Bank Foreclosure, Bank Foreclosure List
Bank Foreclosures, Bank Foreclosures List
Bank Foreclosures Listings, Bank Foreclosures Lists
Bank Homes Direct, Commercial Foreclosures
Distressed Properties, Federal Homes
Federal Homes List, Forclosed Homes
Forclosure, Forclosures
Forclosures by City, Forclosures by County
Forclosures House, Foreclosed
Foreclosed Home, Foreclosed Homes
Foreclosed House, Foreclosed Properties
Foreclosed Property, Foreclosure
Foreclosures by City, Foreclosures by County
Foreclosures by State, Foreclosure Education
Foreclosure Homes, Foreclosure Houses
Foreclosure HUD Home, Foreclosure Investing
Foreclosure Laws, Foreclosure List
Foreclosure Listing, Foreclosure Listings
Foreclosure Properties, Foreclosure Real Estate
Foreclosures, Foreclosures Houses
Free Foreclosure Listing, Free Foreclosure Listings
Frequently Asked Questions (FAQ), Governement Foreclosure
Government Forclosures, Government Foreclosures
HUD Foreclosures,HUD Homes
Real Estate Foreclosure
Reo Home, Reo Homes
Reo House, Reo Properties
Reo Property, Repo Homes
Repossesed Home, Repossesed House
Repossesed Properties, Repossesed Property



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Foreclosure Rates

There are reports that foreclosures have increased in the last month.

Foreclosure information sites

by Victor Caballero

The purpose of this blog is to discuss distressed property subscription sites.

There are dozens of sites on the internet that claim to offer information on properties in foreclosure where you can save 20-50% off market value. While saving 20% is possible it is rare in these times of rising home values.

Many reports are being released daily discussing the eminent drop in home values, that we have reached the peak, etc...

Foreclosures, Pre Foreclosures, REO(Bank Homes), Auction, etc... are available through free and paid sites.

I'll provide you with a breakdown of the sites.

Foreclosure Buying Tips

HOMES for HALF PRICE (Foreclosures, REO, HUD, Bank Homes and more)Enter ZIP or City, State:

RealtyTracRealtyTrac, Inc., the leading online marketplace for foreclosure properties, provides all the resources that home seekers, investors and realtors need to locate, evaluate and buy properties at below market value. Founded in 1996, RealtyTrac sets a new standard for online real estate services by offering the largest database of pre-foreclosure and foreclosure properties, with more than 500,000 properties across the country, comprehensive property data, productivity tools and extensive professional resources. RealtyTrac hosts close to 2 million unique visitors monthly, and is the exclusive foreclosure data provider to AOL, Home Gain, MSN House and Home, The Wall Street Journal Real Estate Journal and Yahoo! Real Estate. For more information:

Buying a Foreclosure Property Below Market Value: Five Tips from the Pros

House hunting can be a very daunting experience, especially in today’s real estate market. Both investors and home buyers have been priced out of the market by escalating costs, and good real estate deals are increasingly difficult to find.

But there are bargains out there, for people who know where to look.

“For people willing to do some homework, the foreclosure market offers some of the best opportunities in real estate today,” explains James J. Saccacio, chief executive officer at RealtyTrac, the leading online foreclosure marketplace.

Web-based services such as RealtyTrac give consumers access to foreclosure and pre-foreclosure information that was previously available only to professional real estate brokers and investors. Today, homebuyers can use these services to assist them identify and research potential home purchases, as well as the tools and professional resources they need to help them close the deal.

With interest rates ticking up and ARMs adjusting upward, experts predict an increase in the number of foreclosure properties on the market. RealtyTrac, which provides all the foreclosure data for both MSN House and Home and Yahoo! Real Estate, has already compiled a list of over 550,000 foreclosure properties across the country.

“Foreclosure properties can be a terrific investment, or give home buyers a much more affordable option than traditional properties,” notes Saccacio. “But they’re not a way to get rich quick, and a foreclosure purchase needs to be approached in an educated, intelligent manner.”

Saccacio offers five tips to help you close a deal on a foreclosure property:

1. Learn about the different types of foreclosure properties, and the foreclosure process.

There are three basic types of foreclosure properties, representing different stages in the foreclosure process: notice-of-default (NOD) and notice of trustee sale (NTS), which are both pre-foreclosure properties; and real-estate-owned (REO), a foreclosure property which has been re-purchased by the bank.

For most consumers, buying a pre-foreclosure property from a private homeowner is the best option. It’s important that both the buyer and the seller see the situation as a win-win situation, in order to ensure a smooth process. In this case, the seller is able to get out from under a mortgage without destroying their credit rating, the lender is saved the time and expense of foreclosing on the property, and the buyer gets a below-market price on a home.

Foreclosure auction sales are typically the domain of the professional investor. These properties are formally in default, and sold to the highest bidder at an auction. Buyers are required to be physically present at the auction, and must pay 100% of the sale price in cash, on the spot. Though foreclosure auctions can offer significant savings, they are not for the feint of heart or the uninformed. Unless the buyer is already familiar with a particular property, there is usually little time to examine it. And the buyer will be competing against professional investors—and sometimes even the lender—at the auction.

Once the lender officially reclaims a home, it becomes a real-estate-owned property (REO). While REO properties typically offer more time for evaluation and a more standard bank-managed transaction, their prices are usually very close to full retail market value.

CHART: Stages of the foreclosure process
Stage
Positive
Negative
Pre-foreclosure:
Notice-of-Default,
Notice-of-Trustee Sale
- Highest potential savings
- Potential win/win scenario benefits all parties
- Chance to evaluate property
- Buyer / Seller negotiations can be difficult- Time pressure to complete transaction before auction
Foreclosure:
Auction sale
- High potential savings
- Immediate property ownership
- 100% of the sale price required in cash
- No time to evaluate property
- Competing with professionals
Foreclosure:
Real Estate Owned (REO)
- Affords significant time to evaluate property
- Traditional bank financing
- Lender often rehabs property
- Lowest potential savings


2. Secure financing early
It’s important for a buyer to be pre-qualified before engaging in discussions with a seller. This ensures that the buyer is in a financial position to purchase the property, and is in the strongest possible position to negotiate. It’s best to work with a lender who understands the foreclosure process, and can guide the buyer through certain steps, such as ensuring that a property is FHA-compliant. Another reason to consider pre-qualification is that not all lenders finance foreclosure properties. Having approved financing in-hand makes negotiations with both the seller and the lender easier, and may even make it possible for the buyer to simply cure the default and take over the existing loan to reduce loan processing fees.

3. Engage a real estate agent as a “buyer’s representative”
Most people hire a real estate agent to sell their home. These “seller’s representatives” are charged with making the sale and negotiating the best deal for their clients. “Buyer’s representatives” have the home buyer’s interests at heart, and are charged with finding the right property and negotiating the best price for their clients. Picking the right real estate agent will make a buyer’s life much easier. There are agents who specialize in the foreclosure market, with specific experience in REO properties. Look for an agent with foreclosure transaction experience, as well as knowledge of local, regional and state laws. But it’s also important to consider the agent’s knowledge of the area; their ability to close a deal; and their access to other professionals (attorneys, lenders, mortgage and title professionals) to ensure that the buyer is in good hands.

4. Do your homework
Stocks offer higher potential returns for investors than traditional savings programs, but are also riskier. Similarly, purchasing foreclosure properties is somewhat more risky than buying traditional real estate properties, but offer much higher potential savings. With the right examination and due diligence, buyers can significantly reduce the risks. It makes sense to give any property under consideration a thorough examination. Here are eight steps for doing a professional-level exam.

CHART: Examination process steps
· Identify desirable neighborhoods – Identify specific neighborhoods where you’d like to live or own a home. This will limit your search to a manageable size for you and your real estate agent, and give your a sense of relative property values.
· Cast a wide net – There are a number of Web-based services that can put hundreds of thousands of foreclosure properties at your fingertips. Since the best savings are often found in pre-foreclosure properties, it’s important to check the percentage of pre-foreclosure (vs. REO) properties in any database before subscribing.
· Determine the property value –Look at the original purchase price, and recent comparable property sales to determine the current value of the property.
· Find out the amount in default and the remaining loan balance – In order to determine a reasonable offer price, you’ll need to know—at a minimum—how much money it will take just to satisfy the debt to the lender.
· Run a legal investing report – Before purchasing any foreclosure property, make sure it is free and clear of any bankruptcies, tax liens or other financial liabilities.
· Assess the condition of the property– If at all possible, visit the property, ask your realtor’s opinion, and review pest and structural reports to make sure that the property is in acceptable condition, or to determine how much of a rehab budget you’ll need to build in to your deal.
· Build a positive relationship with the seller – Before purchasing the property, try to make sure that you’re entering into a win-win situation with the seller, so that they’ll do what they can to make the process easier and leave the property in good condition
· Leverage your timing – Knowing when a property is going to be auctioned gives you an extra bargaining chip when negotiating with the seller or the lender.

5. Make a realistic offer
Despite what you may see on late-night cable TV, investing in foreclosure properties isn’t a sure fire “get rich quick” formula. Lenders aren’t likely to give properties away, particularly in a real estate market where prices continue to rise. And homeowners in financial distress may be difficult to deal with, particularly early in the foreclosure process. The keys to a successful foreclosure property purchase are diligence and patience.

As a rule of thumb, the best savings can be made at the pre-foreclosure stage, where home owners can avoid a foreclosure and lenders can save the time and cost involved in going through the process. Another critical point in the process is immediately prior to the auction date, when all parties might be most open to a last-minute solution. It’s not unusual to save from 10-30% of the market value on a foreclosure property, and certain properties offer savings of 50% or even more. An educated buyer—one who knows how much is owed on the property and what its market value is—can usually come up with a realistic offer; one that offers significant savings, while meeting the requirements of the lender.

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Now go out and familiarize yourself with the resources and tools available to take advantage of the opportunities offered by this formerly-hidden real estate market. With the experts pointing toward significant growth in available foreclosure properties, there’s never been a better time to line up your resources and get informed.

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Scary Facts: Foreclosures Have Hit a 30 Yr High, and in 2003, 8 million Homeowners Fell to Foreclosure. Click Here to Save your Home Now
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