Money: Foreclosures Investments

Investing In Home Foreclosures For Sale – Tips For Saving Money

There are more and more reports and studies about the rising amount of home foreclosures for sale. These appeal to both investors and individuals who are looking for more houses that they can afford. After the collapse of the housing market, the resulting decline in prices of all homes, foreclosed or not, has made the market even more appealing for buyers, experienced and novice alike.

Experienced investors are very busy right now and trying to gobble up as much of the best deals on these properties that they can. It’s not at all unheard of to buy one of these properties at 50% below market value and then do the repairs necessary to resell it just a few months later for the actual market value.

But in order to make smart investments in home foreclosures for sale, there is a bit of a learning curve, and you should do your research. In addition to the price of the home you must also consider at the condition of the foreclosed property. More often than not, the homeowners were struggling to make their payments way before they went into foreclosure, and they sacrificed all repairs that were needed on the home. The repairs that are needed may be more than what you can afford or would want to pay.

You also most definitely need to make sure that you have a clean title and avoid any complicated issues that would make it harder for you to resell the home. Another important aspect you need to research is the area of the home. You will find the best discounts in neighborhoods that are rundown or that already have many foreclosures, but these are ones that you would want to stay clear of unless you have done some research that reveals that this neighborhood will pick up sometime soon.

There are many sources that you can use to find the right home foreclosures for sale that are right for you: newspapers, online listings, real estate agents, public notices of auctions, and local banks. Lenders are very happy to give over a list of foreclosures to you and real estate agents get the inside scoop on foreclosures before they go on the market.

There are several internet sites that list home foreclosures for sale. While most of them require a membership, you do get a free one-week trial to test them out. Some of the bigger names are,,, and but these are just a few of what you have available to you.

All of these sites offer a variety of different features so make sure that you do pick one that provides customer service, many details into the homes that you are viewing such as community profiles, home details, prices, etc, and, especially if you are new to the foreclosure process, tools and articles that will help you in your search.

Buying Foreclosure Mobile Homes – Be Prepared Today

Buying foreclosure mobile homes is really the same process as that of buying regular homes. Mobile homes are manufactured homes and modular houses and offer some of the cheapest buys on the market, as well as sound investment opportunities. The Return on Investment can be just as high as that of townhomes, or apartments, and quite a few mobile homes are very refined, and elaborate. They also make nice properties that you can rent out to tennants.

To find any kind of foreclosures for sale, you can go to any one of the many foreclosure listing websites online. Some of the most recognized ones include,,, and, but there are many more. Most of these sites offer free week-long trials so you can test the waters to see if it is the worth upgrading to the paid membership level.

When looking at these sites, try to pick ones that offer customer service and a listing of all types of properties (pre-foreclosure, auctions, etc). The more information you can find about the foreclosure mobile homes, the better. You’ll want to check out the neighborhood and community, the number of beds and baths, and even a search based on the amount that you want to pay, if possible. You can also find listings in real estate or mobile home magazines, newsletters, and newspapers, or you can contact lenders for lists of foreclosures in real estate owned (REO) properties. Keep in mind that a bank or lender who makes the decision to foreclose must file a notice of default in their local county clerk’s office.

You might also want to try to find a real estate agent that is experienced with foreclosures, or that focuses only on foreclosures. With the foreclosure rate being so high, you shouldn’t have too much trouble locating this kind of agent. To really handle things in an expert manner, you could also look for an agent that deals only with mobile homes.

It is in your interest to get pre-approved before you really start to make any offers. Remember that pre-qualified and pre-approved are not the same thing and that you do want to go for the pre-approved status. It will save you a lot of heartache in the future if you can have this under your belt. Getting pre-approved is harder nowadays precisely because the banks do not want more foreclosures on their hands.

Once you’ve come up with some foreclosure mobile homes that you are interested in, narrow down your choice together with your agent before you decide to make an offer. Of course you will want to also have some sort of inspection. Remember that dealing with foreclosures is a bit more time consuming than the normal process of buying a home (which already does require a lot of patience, paperwork, and time). But you’ll be happy that you persevered once you are living in or renting out your mobile home.

Buying A Pre Foreclosure Home – Tip The Scales In Your Favor

A pre foreclosure home is a home in one of the many stages of foreclosure. Pre foreclosure is the very start of the foreclosure phase and it begins when the homeowner has not been able to make his or her payments and the bank or lender then starts to act with the formal foreclosure process. It is in this time that the troubled homeowner is presented with a few options to solve their problem, including refinancing or paying the loan in full or catching up on payments and all the fines incurred.

Obviously, except for the refinancing option which is often hard to go through with anyway if the owner is having problems paying his or her mortgage, he or she also will not be able to perform the options offered. If he or she were able to pay off the mortgage or even continue the monthly payments, then he or she would not be in this position in the first place. This is where experienced or informed novice investors and skilled negotiators can make good profits from a pre foreclosure home.

The best properties to locate, although they are not easily spotted, are those where the value of the home is more than the outstanding loan balance. Start by looking at your local resources. You can check the county records of present home owners as well as the section dedicated to Legal Notices in your newspaper.

You can then try to get in touch with the home owner. Do it the old-fashioned way by knocking on their door, or give them a call. Often, they will not answer their phones if they have been avoiding lender’s calls. Perhaps the most professional way to contact them is with a letter about how you can help them get out of the situation they are in.

You’ll need to find out if there are any liens or mortgages against the property, and, if so, leave that one alone. When you pick out a property that meets the no-lien criteria, get a full inspection to obtain its value. If you then decide to move forward, work together with the owner on a purchase agreement.

This way you will be helping the lender who won’t have to spend anything on the usually expensive foreclosure process. And you will be helping the homeowner because he or she will not suffer much damage to their credit rating. Depending on how much the value of the house is, you can decide if you even have enough money left over to offer the home owner some extra cash to secure your deal.

Remember that all investments incur risks. In general, the higher the risk, the higher the profit. But you can lower your risk significantly and still profit by putting in the time necessary to do your research. There are also many foreclosure websites that list pre foreclosure homes.

Free Listing Of Foreclosure Homes – Risky Or Not

If you’re looking for a free listing of foreclosure homes, you are in luck. It is extremely easy to find this information now online. The only problem that you face is which free listing to use. Keep in mind that most sites that list the information you are looking for only offer a free trial. So you have a certain amount of time that you can use the site to try it out, and then you can decide whether or not you would like to go ahead and become a member to use all of the site’s services.

Due to the current economic crisis, foreclosed homes are becoming more and more abundant. However, the general attitude about buying foreclosures remains rather skeptical and negative, apart from those investors who are experienced in this field and have been doing it for a while. Although foreclosures can be the best valuses, they also do involve more risk, more paperwork, and more time in order to close the deal. So, those that do have the money to spend often even avoid foreclosures. And those that are just trying to buy their first home at a price that they can now possibly afford with a foreclosure will have to jump through hoops in order to get pre-approved for their loans. Free listing of foreclosure homes can help cut down on some of the annoyances of buying homes. If they are reputable sites, they can offer you a great deal of information about the home that you are looking into purchasing, and this information can help you to make an informed choice.

Foreclosure properties are sold anywhere from 5 to 50% off of the market value price. However, the less risky foreclosure deals will be closer to that 5%. These types are the bank foreclosures that are cleaner and easier to understand. Some investors prefer to go for pre-foreclosures or auctions, but these to include more risk. Many foreclosure listings offer you information about what stage of foreclosure the homes are in, so you can just focus on those that you are interested in. They also offer information about the home itself including price, layout, bedrooms, baths, and even helpful information about the community and/or school district that the home resides in. These are all important things that you need to consider. It will do you no good to buy a cheap house in an undesirable neighborhood. So take all of this into account.

Just some of the many sites of free listing of foreclosure homes are: Free Foreclosure Database (completely free but with less features, Foreclosures (7-day free trial), RealtyTrac (7-day free trial), Foreclosure (7-day free trial), Realty Store,(7-day free trial), Absolute Foreclosures (7-day free trial), and Foreclosure Free Search (7-day free trial). All of these sites offer different features so make sure you choose one that accommodates your needs.

Buying A Home After Foreclosure – Real Property Value

Are you considering buying a home after foreclosure? With the market being what it is today, if you have the time and the money to invest, it could end up being a wise decision to pursue this route. Make sure you learn about how to research the best properties and get help when necessary so you end up buying a bargain, and not a lemon.

Your first step is to decide in what stage of the foreclosure process you want to buy. The general options include pre-foreclosure, sheriff’s auction, and the repossession stage (referred to as REO which stands for Real Estate Owned by the bank). Buying a home after foreclosure would, of course, exclude the pre-foreclosure option.

Bank-owned properties are generally considered the safest ways to go, so they are ideal if you are new to the foreclosure buying. Sheriff’s auctions usually sell the lowest priced houses, but you need to have some experience or expertise in order to get the good end of the stick on these. In these cases, the houses are usually not available for inspection, so it’s easy to pay a lot more in the end than what you thought you would have to pay for repairs.

A repossession takes place when the house was not sold at the auction, so the bank gets it back. You will most likely not get the best deals at this stage, but at least you will get a clear title and an inspection so you won’t be surprised by any unexpected expenses, minimizing costly surprises. The other benefit is that the lenders who sell these homes may have already made some repairs and can also offer good financing terms. While these are safer bets, the houses are still often sold in “as-is” condition. But they may be willing to pay for some of the repairs that are deemed necessary after the inspection is performed. Another advantage is that these types of deals can go through much faster.

The importance of the home inspection cannot be over-emphasized. Make sure that you take someone with you that you can trust to give you the full picture. Never underestimate the costs involved in repairing a house. In fact, you should add in at least 10 percent of a cushion for extra repairs over what is estimated.

A good tips is also to buy foreclosures in areas that do not have many other foreclosures. These types of areas will only lead to a decrease in the market value of the home that you buy. Another tip is to make sure you are sure to get financing. You need to be pre-approved in order to move quickly. Also, keep in mind that being pre-qualified is not the same as being pre-approved. Pre-qualified is a step in the right direction but more work needs to be done in order to get you pre-approved for buying a home after foreclosure.

Bank Foreclosure Homes For Sale – Make It A Viable Alternative

Are you looking for bank foreclosure homes for sale? The good news of course is that in this day and age, you have a lot of them to choose from. But before you jump in head first, doing some research about these homes, and how to go about getting a real deal is a must. While you may see a home being advertises at up to 60% off of its market value, make sure that you learn everything you need to know before you decide to make a deal on it.

The first step in buying bank foreclosure homes for sale is finding out where they are. There are several foreclosure websites that offer lists of these types of properties and most of them offer this information free for a week. You then need to pay for a membership if you are satisfied with the services. is one of the largest lists of foreclosed properties, With more than one million properties in the United States. Properties listed are categorized into different phases: REO (Real Estate Owned by the government), NOD (Notice of Default), Notice of Sale, Auction or those that have been repossessed by the government. also provides information about the community of the property, certain laws, and calculators. This site also provides live chat support.

RealtyTrac gives you the names of properties in different stages of the foreclosure process. Homes for sale by owner are also included. also offers a list of foreclosures, including those that have gone to auctiononline.

Make sure that you do take full advantage of each site during your free trial period. By doing so you will be able to evaluate each sites information and make the right decision for yourself.

Once you have your list of bank foreclosure homes for sale, you can start to do your research. Some people prefer to get homes that are in state of repair and fix them up to sell them for much more. Others are looking for home that are in tip-top shape, and willing to pay the going price for foreclosures on those types of homes. Whether you’re looking for a second home, a vacation home, an investment property, or even your very first home, you can find a great deal of properties at this time.

The most popular way to buy foreclosures is to purchase them from banks because it is comparatively uncomplicated as compared to other methods, and it is less risky. You can still find good deals, but not as good as those which require you to take on more risks. You can also decide to go for government owned properties, or you can go directly to the owner.

Auctions may present lower priced homes, but these too are often risky, so make sure you are more advanced in your research and experience in buying bank foreclosure homes for sale before you dive into these.

Investing In Foreclosure Homes For Sale – Solid Investment

There is an all-time high amount of the foreclosure home for sale in the U.S. and now is a good time to think about investing in one (or more) of them for your home, as a second home, or to resell at a higher price. While the conception of foreclosures in the past has been of down-trodden homes in undesirable areas, you can now find upscale homes in affluent areas that are at some stage in the process of foreclosure.

While it’s true that it is possible to get foreclosures at up to 50% below market value, most worthwhile properties will really only be 5% to 10% below, so keep this in mind as you are doing your searches. Also keep in mind that you should take the time to learn the process before you seriously start to consider investing your money.

As you know, the beginning of the foreclosure process starts when the owner is not able (or is unwilling) to keep up with the mortgage payments. The case is usually that the owner is simply unable to keep up, and will do everything in their power to make the payments, which means that any upkeep or repairs to the house will be sacrificed. This might translate to a lower price for you, but you also need to consider the price of the repairs that you will eventually end up doing.

If you are new to the real estate investing game, your best bet is to buy from the lender who can work with you on financing and the down-payment. You may even not have to pay for an appraisal as the bank may have recently already had this done. However, you might even prefer to have a second opinion on that as well.

There is another type of foreclosure home for sale that could appeal to you. These don’t often show up as foreclosures in any lists but they are homes that were just built and then not able to have been sold off. So what happens is that the lender who handed out the construction loan will take possession of the home and try to sell it through real-estate agents. These are harder to find because no one ever really refers to them as foreclosures, but that is what they are.

Pre-foreclosure homes are another appealing stage for those investors who have more experience and feel that they can take on more risk. In this case, you would want to locate a home owner who is about to foreclose and try to make a direct deal with him or her. You can get good deals this way but the process can be long and drawn out before you even find out if the home is really the one that you would like to invest in. Whichever way you decide to go, you will not have a hard time finding a foreclosure home for sale.

Prevent Home Equity Loan Foreclosure – Tips For Avoiding

Home equity loan foreclosure cases are part of the overall foreclosure happenings that have been on the rise since the housing market collapse a couple of years ago. Home equity loans (HELs) are often used for home improvements or other expenses for the home. The loan can be at a fixed or variable rate and it is secured by a mortgage lien. So what happens when you have a home equity loan which is, as previously stated, secured by your home, and you foreclose on your home.

You will most likely still be responsible for the loan that you have taken out. Obviously, your home can no longer be used as collateral for the loan, but you will then have a personal liability. The creditor will probably proceed with collection action if you are no longer paying off your loan, and they may even file a lawsuit against you to get the money that you owe them. Also, if, after the foreclosure, the auction of the home does not cover the full balance of the first mortgage, then you could also be responsible for what is termed a “deficiency balance” on that first mortgage. And this too could result in more collection activity and/or lawsuits against you in order to collect the payment owed. If, on the other hand, the earnings from the auction do cover all of your mortgage and home equity loans, it is quite possible that you can breathe a sigh of relief and be free of any obligations.

If you are undergoing a home equity loan foreclosure, then you need help and support. There are not many worse experiences than going through a foreclosure and losing your home, possibly one that you have lived in for quite a while. That is the most immediate impact, but you also will suffer a long-lasting impact on your credit score, which can hurt you in all of your future endeavors.

If you are not yet in foreclosure, or if you just feel that your situation is getting out of control, then you should first contact your lender. You may qualify for a “special forbearance” which really just means a modified payment plan. You could also try refinancing your mortgage so that you are able to afford it. Or, you may even be able to qualify for a FHA “partial claim” which makes a one-time payment to catch you up-to-date with what you owe.

Remember too that while the thought of losing your home scares you, it also very much scares your lender. If your home goes into foreclosure, your lender will very likely lose money, and whether they do or they don’t lose money, they will go through a lot of paperwork, and spend a lot of extra time and effort on your foreclosure. In order to prevent home equity loan foreclosure, get in touch with your lender as soon as possible.

Help With Buying Bank Foreclosures Homes

Are you interested in buying bank foreclosures homes? There are definitely many of them to choose from in the present-day market. While this is appealing to those who are looking for a deal, there are also some aspects of dealing with foreclosures that you need to take into consideration.

Just to start from the beginning, most people realize that foreclosed properties are those that are taken back by the banks, lending companies, or government because the mortgagee has not been able to maintain his or her monthly payments. And, of course, in order for the lender to be able to earn back their money, they need to get it on the market again right away and sell it as soon as possible. Selling it as soon as possible also means lowering the price, and this is where you, the buyer, can get a real deal.

In order to find bank foreclosure homes, the best source that you can use is the Internet. You can find many services that list foreclosures along with all the necessary data and details about each property. Many of these sites offer a free week’s trial so you can test them out to see what they offer and how they work. You can also go through agents and brokers. Another source are the postings of auctions by government agencies. foreclosures homes are generally considered to be less risky and very possibly the best choice if you are new at dealing with foreclosures. As stated earlier, the majority of foreclosed properties are sold at much lower prices so that banks can get rid of them quickly. The price can end up being up to 60% less than the market value.

When on the lookout for foreclosures, first make a decision about whether you want to resell your purchase or keep it for yourself. This will help you narrow down your choices. It’s worth mentioning that you will probably put a lot of time and effort into a foreclosed house that you buy for yourself. However, a foreclosed house can be patched up quickly just for the purposes of reselling it to someone else.

Remember that you cannot just rely on the fact that foreclosed properties are cheap. Make sure that you do the appropriate research to ensure that you are really getting a good deal, and not a property that will cost you a fortune to repair and resell, or to fix up so that you yourself can live in it. Some properties will sound inexpensive and look nice, but you will have a hard time selling them because the location is undesirable. You can do the research yourself, and you can get assistance from an assessor.

Bank foreclosures homes are a good option as long as you spend a little time informing yourself of how to go about it, and do the appropriate research.

Foreclosures On Home Data – Make Your Decision Easier

The most recent statistics, written about in the Atlantic (, about America’s foreclosure market reveal that repossessed homes will probably hit one million before 2010 is over, with the worst-hit areas states being Nevada, California, Florida, and Arizona.

Foreclosures on home listings are expected to reach about one out of every 138 households as homeowners continue to lose thier jobs or remain unemployed. Many homeowners were also denied refinancing since their homes are worth less that what they owe on their mortgages. The government’s effort to prevent foreclosures did make a small impact, giving over 200,000 homeowners (just over 20% of troubled borrowers) modifications of their loans.

How to homeowners deal with foreclosures? According to a new poll sponsored by RealtyTrac and, the present-day foreclosures are caused by unemployment, not the same subprime mortgage products that started the foreclosure trend. Right now unemployed borrowers now account for about one out of five mortgages in the U.S. Also according to the poll, only about one percent of those questioned answered that their first choice would be to walk away from their homes. However, there are some homeowners that choose to walk away, called strategic default, even when they can still afford the mortgage payments.

The flipside of the amount of foreclosures on home is the people who want to buy them. It seems that there are not enough buyers to accommodate all of the foreclosures. And the buyers who have the finances and the means, are wary of foreclosures. The poll also showed that construction is suffering the most from the collapse of the housing market the recession that came soon after. Renovations to foreclosed homes could help this industry a bit and some good statistics are that over 90 percent of those questioned responded that they would be willing to invest in home repairs and improvements on a purchased foreclosure. This offers hope for the construction industry.

As Rick Sharga, RealtyTrac Senior Vice President, is quick to point out, the forecloses homes that we see on the market are by far not the only ones existing. There are many that the banks are slowly trickling into the real estate market so as not to flood it and make prices go even lower. These “hidden foreclosures” which is termed the “shadow inventory” is almost three times more than what we see on the market, according to Sharga.

What do all of these statistics tell us besides the fact that foreclosures on home property are going to be around for a while, as we already knew? Sharga explains after having performed a detailed analysis on the market that foreclosures will reach another high in 2011 and will probably not be back to “normal until two years later. House prices will also rise very little, if they even rise at all, in the next two or three years.